Guys, here's the bat advanced formation that is very close to completion.
Mind the B-point. If you trade harmonic patterns then the 0.602 B-point ratio turns the pattern into the gartley pattern. 0.602 is closer to 0.618 rather than to 0.5.
But with advanced patterns the calculation is different: until the B-point is less than 0.618 it stays a bat formation.
This leads to some differentcies in entry point. Harmonic traders already played the gartley pattern because its completion is cloer to 0.786XA and pushed the price to the downside. I marked this swing with a green arrow on my chart. But advanced formtions traders didn't yet step into the market awaiting for 0.886XA to be hit (the bat completion).
You are to decide what strategy you choose: either harmonic patterns or advanced formations. Mixing the two approaches leads to catastrophic results.
Mind the B-point. If you trade harmonic patterns then the 0.602 B-point ratio turns the pattern into the gartley pattern. 0.602 is closer to 0.618 rather than to 0.5.
But with advanced patterns the calculation is different: until the B-point is less than 0.618 it stays a bat formation.
This leads to some differentcies in entry point. Harmonic traders already played the gartley pattern because its completion is cloer to 0.786XA and pushed the price to the downside. I marked this swing with a green arrow on my chart. But advanced formtions traders didn't yet step into the market awaiting for 0.886XA to be hit (the bat completion).
You are to decide what strategy you choose: either harmonic patterns or advanced formations. Mixing the two approaches leads to catastrophic results.
Trade active:
orders triggered;)
Trade closed: stop reached:
closed at stop.