I am pretty new to harmonic patterns but really keen to use them more, so I have a question...
I have a cheat sheet which shows Bearish Bat formation with the ratio from X to B as between 0.382 and 0.5, and ratio of X to D as 0.886.
I notice that your plot does not quite fit these "rules". Is this because the rules are not strictly necessary or because my cheat sheet is wrong?
Thanks
Gbambam
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@jackjamesholmes, No problem there are many variation of bat. However my X to B leg may have exceed the 0.50 but it did not violate it as we pushed down and had a candle close at the 0.50. And taking a fib from X to A to get the D leg is 88.6
jackjamesholmes
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@Gbambam, Thanks, that helps me understand the idea
I am pretty new to harmonic patterns but really keen to use them more, so I have a question...
I have a cheat sheet which shows Bearish Bat formation with the ratio from X to B as between 0.382 and 0.5, and ratio of X to D as 0.886.
I notice that your plot does not quite fit these "rules". Is this because the rules are not strictly necessary or because my cheat sheet is wrong?
Thanks