How To Draw Bat Harmonic Pattern In this simple lesson, we will learn together how to draw a bat pattern
About the School of Harmonic Analysis
The harmonic analysis school is about certain patterns that occur on the chart that give an indication of a reversal in the trend, using Fibonacci ratios, and it is considered one of the most important schools in technical analysis that many analysts rely on in the world.
The school consists of more than one model, but in brief, we will learn the most important and most frequent models on the chart.
Today with the first pattern, which is the bat pattern.. Please follow the instructions on the chart and for any questions, please put a comment
Harmnoic
EURGBP | AUG 21 2016 | WEEKLY:Technically, we expect continue to climb towards 0.8830 levels, tested and bounce of it later.
In the medium term, we have two bearish Harmonic patterns.
ab=cd bearish (developed by Scott Carney): C @ 0.50AB and D @ 2.00 BC.
XABCD bearish Crab pattern under construction (developed by Scott Carney): B @ 0.500 XA, C @ 0.886AB and D @ 3.618 BC + D @ 1.618 XA
pattern targets (If the construction of the two patterns is complete):
1st target @0.382 of AD (xabcd) + 0.382 of BC (ab=cd).
2nd target @0.618 of AD (xabcd) +0.618 of BC (ab=cd).