The Bat Pattern is a 5-point retracement structure that was discovered by Scott Carney in 2001. It has specific Fibonacci measurements for each point within its structure and it is important to note that D is not a point, but rather a zone in which price is likely to reverse, called the Potential Reversal Zone (PRZ). The B point retracement of the primary XA leg must be less than a 0.618, preferably a 0.50 or 0.382 and the PRZ consists of 3 converging harmonic levels: 1) 0.886 retracement of the primary XA leg, 2) extended AB=CD pattern, usually 1.27 AB=CD and 3) minimum BC projection is 1.618.
The first target would be the 382 retracement of AD and the second target the 618 retracement of AD. A common stop level would be behind the X-point. Conservative traders may look for additional confirmation. Bat Patterns can be bearish and bullish. TradingView has a smart XABCD Pattern drawing tool that allows users to visually identify 5-point reversal structures on a chart.
For about a year, a symmetrical triangle formation has formed in the BAT / USD pair.
TARGET
Pivot points (zones) I showed on the chart. All levels (price zones) on the chart.
In cases of breaking it up, the potential is about + 310%.
ENTRANCE
On a breakout of a pattern, or rollback after a breakthrough, depending on your trading strategy.
Stop loss
Under key...
Copying. While there is a clear tracking of the fractal. Even the time frame is almost day to day.
Maybe this is specially done to deceive at the most crucial moment.
The price is now at the resistance line of the downward channel in increments of about 33%.
ENTRANCE
On a break of the downtrend line, or a rollback after the break, depending on your trading...
A bearish bat setup that is still valid with the arrow indicator as a selling opportunity. The market has already checked back to the recent arrow and pose a potential trading opportunity.
What is your trade plan? I have mine prepared. Comment down below.
A bearish bat setup on this timeframe does not necessary got me interested to engage this trade.
However, look how nicely the candle close as a long shadow and below the previous candle high. I already have the intention to short at the market based on the daily chart.
This provides a better price entry then to engage it directly on the daily chart.
Just take...
A bearish bat pattern shows up in one hour chart, it provides a potential reversal level (PRZ) from 1.70890 to 1.70840. In the larger time frames, the market is in down trend after general elections of the United Kingdom, so this selling opportunity in a follow trend trade. I will wait for market gives me confirmation signals which is near PRZ top 1.70890, then I...
Entry #34 shows a bat being formed, this is a butterfly formed in the Bat's PRZ adding to the probability of the trade. There is MACD divergence as well.
A bearish shark setup for a selling opportunity that lined up for a trend extension opportunity on a higher timeframe counter-trend trading opportunity.
EURUSD hit 0.618 + structure
daily chart already break yesterday's high
hence we can buy eurusd and aim 1.1050
1.1150
if price can break 1.1200 , then we can close all profit at 1.1350
where the BAT pattern complete
Bear Move And Formation Of Wedge:
From Jun 2019 to Sep 2019 after taking more than 70% drop the world's 11th largest cryptocurrency Tron is moving in a falling wedge now, the formation of this chart pattern was started from Oct 15 2019 the in mean while the priceline of TRX has touched 5 times the support of this wedge and hitting 3rd time on the resistance of...
Hi everybody,
this can be easily sorted to Beyond Technical analysis category.
There is no philosophical background behind this idea, I just played with fibs time zones a little and all past tops pretty fits.
This may be just huge coincidence, but let indicators talk:
MACD: golden cross - bullish
MACD: histogram buy signal
STOCH : buy signal
(dotted lines/gray...
I was shorting this bat a little above B and now closed at PRZ. Idea is to start longs now, I will update if I get a signal, otherwise open more shorts at A break that could lead us down to 6.4 k POC.
Will keep you updated.
Good luck
BAT Figure "Cup with handle." Now "handle" is being drawn. Pivot points on which the confirmation of the figure depends, I depicted on the chart. After this growth, the coin is now at the very bottom of the previous horizontal channel. Very important red zone. This is the lower boundary of the channel. The movement of the coin for several months depends on this...
In my previous post I elaborated that how the price action of Stellar has formed a very big bullish BAT pattern on month chart and completed the bullish setup for upto 596% gains.
But the recent bearish move of price line that was started since Nov...
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