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.
CHFJPY is currently on downtrend right now. Identifying that there is a Bat Pattern in the area makes me more confidents it's going down more and more.
EURJPY - Currency Trading - Forex Market - Harmonic Pattern Technical Analysis
Technical Analysis
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Trade Period: Intraday Trading
Currency Pair: EURJPY
Time Frame: 45Minutes
Predicted Direction: Short
Trade Based On: The Bearish Bat Pattern or The Bearish Crab Pattern (Harmonic Patterns)
Another pattern : Diamond Pattern
I will open Sell if ...
Gold Bat Pattern. See on monday if bull candle performed. On H1 it already showing change in direction to bullish.
If confirmed Bat pattern Completed.
Ready for Break up.
Technical analysis:
. BasicAttentionToken/Ethereum is in a range bound and the beginning of uptrend is expected.
. The price is below the 21-Day WEMA which acts as a dynamic resistance.
. The RSI is at 44.
Trading suggestion:
. There is a possibility of temporary retracement to suggested support zone (0.00093100 to 0.00082500). if so, traders can set orders ...
Like and Follow for more Ideas and updates to this chart.
Ripple is in a potential bullish harmonic reversal zone here. There's also a weekly bullish divergent bar, and the weekly momentum is starting to diverge and turn around. We're also within the correct time zone for this wave to end, along with the inside Elliott wave count for wave-(d) matching that of ...
The S&P500 tanked violating previous support in December, bringing the trend in a bearish rotation.
After making new lows, we are observing a potential outside return, testing previous structure support that potentially might act as resistance.
This bias indicates an advanced pattern, an equal measured move (AB=CD) with Fibonacci confluence aligning with major ...
The chart for Bank Of America (BAC) is looking bad long term, there are many signals pointing to a very strong drop.
The last time this company had a crash, it shredded over 95% of its value... The same might happen again.
Let's take a look at some of the signals:
Let's start by looking at Divergence, you can spot this marked with a light blue line on both ...
Bearish bat and Wolfe suggest we could see a significant price move to the downside on gold. One to watch. The daily rsi indicates OS but the 1 week says otherwise. Hmmm?
Traders, today we have XAU/USD on the daily chart with a valid bearish bat pattern.
The measurements for a valid bat pattern are detailed below.
B: 0.382 - 0.50
C: 0.382 - 0.886
D: 1.618 - 2.618
XA Retracement: 0.886
Price has yet to confirm the PRZ which consists of a 1.618 AB=CD, 2.618/3.14 BC and 0.886 XA retracement.
Once the final 0.886 measurement ...
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