Apple22
Long

Bat on USDCAD Hourly

FX:USDCAD   U.S. Dollar/Canadian Dollar
120 7 1
Last USDCAD             i showed u completed head and shoulder.
Now a bat pattern showing up @ our target area from head and shoulder.
i might have a tighter trail stop for 2nd target on head and shoulder.
Good luck.
K
Sandeep_Gupta
2 years ago
To be a valid Bat pattern, the AB retracement of XA should be in a range of 38.2-50.0%. This is a Gartley as the AB retracement is 61.8% of XA. The leg AD should be 78.6% retracement of XA.
Reply
Apple22 Sandeep_Gupta
2 years ago
Move B to 50 Fib
Reply
angmohlin Sandeep_Gupta
2 years ago
D point already completed?
Reply
Sandeep_Gupta
2 years ago
Sorry, this pattern is no way a Bat pattern according to the ratios provided by the masters to be a valid Bat harmonic pattern, masters like Scot Carney and the others.
Reply
BarisYalcinkaya
2 years ago
Sandeep_Gupta was right. Actually this pattern is looking like a well defined Gartley Pattern. However, there is a problem in there. For a valid Gartley pattern, price should not pass BC(1.618), on the other hand, it must test AB=CD level. If you check the levels, AB = CD level is located below BC(1.618) which means that pattern would be fail. Keep in mind that if the price pass BC(1.618) it may turn to BAT pattern; but now XA(0.618) is the maximum acceptable value for BAT pattern. I think, you just accept a formation as a BAT when the price level of B is XA(0.382-0.50).

I hope that it will be useful for your analysis.

Good Luck,
Baris
Reply
Sandeep_Gupta
2 years ago
As I understand, the Bat should have minimum requirement for AB retracement in the range of 38.2-50% of XA. Please refer the cheat sheet from neoharmonics.com for the valid Bat ratios.
Reply
BarisYalcinkaya
2 years ago
Thank you Sandeep_Gupta for your proposal. I'll check it.
Reply
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out