rajenderam40
Short

BEARISH BAT

FX_IDC:XAUEUR   GOLD / EURO
41 0 2
10 months ago
Price Patterns: "Bat"
The Bat Pattern , is a precise harmonic pattern discovered by Scott Carney in 2001

The pattern incorporates the 0.886XA retracement, as the defining element in the Potential Reversal Zone (PRZ).

The B point retracement must be less than a 0.618, preferably a 0.50 or 0.382 of the XA leg. The Bat utilizes a minimum 1.618BC projection.

In addition, the AB=CD pattern within the Bat is extended and usually requires a 1.27 AB=CD calculation. It is an incredibly accurate pattern and requires a smaller stop loss than most patterns.

BAT:
Point B:
38.2% to 50% XA
Point C:
38.2% to 88.6% AB
Point D:
88.6% XA
Targets:
TP1 38.2% AD
TP2 61.8% AD
10 months ago
Trade active
9 months ago
Trade closed: stop reached
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