Tradesy1

Bearish Bat Pattern (DAILY)

Short
FX:GBPUSD   British Pound / U.S. Dollar
The Bat Pattern , is a precise harmonic pattern discovered by Scott Carney in 2001

The pattern incorporates the 88.6%XA retracement, as the defining element in the Potential Reversal Zone (PRZ).

The B point retracement must be less than a 61.8%, preferably a 50% or 38.2% of the XA leg. The Bat utilizes a minimum 161.8%BC projection.

In addition, the AB=CD pattern within the Bat pattern is extended and usually requires a 127% AB=CD calculation. It is an incredibly accurate pattern and requires a smaller stop loss than most patterns.
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