Alexander_Nikitin
Short

A bat advanced formation

FX:GBPUSD   British Pound / U.S. Dollar
Hey mates, this is a bat advanced formation , not a bat pattern . How can you distinguish between the two? Read further:
1. A bat pattern B-point lays within 0.382XA-0.618XA range. A bat advanced formation B-point is within 0.5XA-0.618XA.
2. Bat pattern C-point is 0.382AB-0.886AB. Bat advanced             fomation C-point is 0.382AB-1AB
3. Bat pattern D-point is a termination bar that crosses the confluence of fibs: 0.886XA, 1.272/1.618AB=CD and 1.618/2BC inversion. Bat advanced formation D-point is whatever bar that touches 0.886XA.
4. Bat pattern is traded at market: when termination bar appears need to have an RSI divegence for a valid entry. Bat advanced formation is traded with limit orders.
5. Bat pattern stops are usually based on money/ATR value above the termination bar. (this means sometimes bat pattern stops can be placed before X). Bat advanced formation stops ALWAYS placed beyond X.

//|+-------------------------------------------------------------------------------------------------------------------+
//| This pattern was found with PatternSearch software
//| You can see a sample video here https://www.youtube.com/watch?v=beZhTtW1diU
//| If you wish to get this tool contact me in PM
//|+-------------------------------------------------------------------------------------------------------------------+

Best regards. Alexander Nikitin.
A professional trader, programmer and a trading coach.

is this still valid?
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Valid Cypher in higher time frame?
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Yes. It is valid. But the stop loss size is a bit large for me: http://prntscr.com/ckw9er
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