The Harmonic Bat is a variation to the Gartley pattern which was developed by Scott Carney. It is considered to be one of the more accurate patterns exhibiting a higher success rate than any other harmonic patterns . The bat pattern might look similar to a Gartley 222 Butterfly pattern but differs only minutely in terms of the Fibonacci ratios between the swing/...
For my own limits, 9900-10000 is a no trade zone because I have no directional bias to rely on in this area. I view under or right at the bottom of $9900 as a reliable support level and $10050 as resistance.
Alternatively, 9947~ can be a area to scale in long as it is the 0.618 retrace point of the dump (10085-9730).
$10000 is a psychological resistance and an...
Safer entry the higher resistances it breaks however. Catching knifes is a real fine art and one that can be tricky even for the more educated. So play this level at your own risk, or wait till a bit higher maybe above 3800 to rebuy if it is passing that level with ease.
Resistance needed to be broken: 6300s range
A daily close above 6300 would indicate we're not going to fall to mid 5000s this week. A daily close above 6400 means 6800 automatically, believe that.
Hedge short above 6300 or 6400.
