Out of all the advance patterns, Bat pattern
is my favourite. And this is because of the favourable risk : reward ratios it generates. Usually, there is a 1: 2 risk : reward ratio. However, taking into account the structure on this trade, I am taking a 1:1.5 which meets my trade plan requirements, and potentially shooting for higher target.
So what does this trade has to offer in terms of technical analysis:
1. A support zone
2. Ratio confluence.
4.And of course a potential Bat pattern