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.
BTC climbed to 5500 last week and fell because it came to our big time frame supply level, marked between 5280-5665.
Market participants always work the same way, buying after a rally or selling after a huge drop. What we should do is actually the opposite, selling when the price is high and buying when its low, hence the famous phrase "Buy Low Sell High"....
Target2 Exit was lower as candle close below Profit Trendline.
Is a great trade, let's see how this turns out.
If you are interested in find out more, check out our website which is currently under maintenance.
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Hello dear crypto friends!
Basic Attention Token is close to breaking 35 cents important Weekly resistance in USD. We changed the Weekly trend already by breaking 16,5 cents lower highs.
First TP zone in that scenario would be 40 cents: 16% profit
Second TP zone would be 50 cents: 40% profit
Accompanied should the move in USD be also by relative strength...
Long opportunity if bat pattern is complete
entry level , targets and stop lose are clear on chart >
This is not an investment recommendation or any call to buy or sell
It is just an analysis based on a study of the history of price action
Behavior , that may not be a necessarily reason for the success of
the structure or repetition. So please make your...
Hey everyone, today I bring you guys an analysis on XLM.
As we can see in the chart, there is a Bat pattern, with a cluster in the zone 2173-2193 which is the buy zone.
This pattern has a win rate above 80% , so let's check it out!
We can also see that volume is decreasing while price goes down, this means that this dump is losing it's power , which is bullish...
$BAT Potential Inverse H&S on the 12H BTC chart....
Bouncing from support at ~5800sats
Volume still low but rising
MACD bullish & RSI over 50 levels..
Breaking above 6400 sats can confirm the pattern...
#BAT
we can get short trade if bat pattern has complete
at 1.3433 . or breakdown flag channel
This is not an investment recommendation or any call to buy or sell
It is just an analysis based on a study of the history of price action
Behavior , that may not be a necessarily reason for the success of
the structure or repetition. So please make your decision based on...
USOIL Completed Bearish Bat Pattern
and form a potential Doulbe Top
Therefore our strategy is to sell the pull back
by using structure break-out method:
Senario 1: Price pull back to 59.67 and take a sell
Senario 2: If Price didnt not pull back then we can find
Inside Bar Break Down to capture
Hi everyone
If you have been following me for awhile, you will probably know that I trade mainly the currency pairs, occasionally gold, silver, oil and the Indices.
I have traded BTC only once ever ever ever in my trading life. It was a winning one too :) (See related post attached) - just realised it was more than a year ago
However I see an opportunity coming...
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