Bat Pattern: Is a retracement Pattern and a trend continuation pattern. As market consolidates
Bat pattern gives you a lower price on where to trade with minimal of risk as prior to a continuation
of the market trend.
Rules or Fib Ratio of Bat:
XA point
- impulsive leg - ideal
AB point
- 38.20% to/but not equal to 61.80% XA leg
Price touch 61.80% XA leg could be a Gartley.
Modified: Price break 61.8% XA but close just
above 61.8% XA is still a valid Bat (bull version).
Ideal B point: Price Ranging between the 50% - 61.80% XA
BC point
- atleast 38.2% AB but must not be equal
or exceed the pattern's A point price.
D completion - 88.60% XA leg. Buy in its Bull version.
How to trade the Bat Pattern:
Entry: 88.60% or once pattern is completed.
Wait for confirmation - Price Action
SL: Just below Pattern's X point (Envisaging Support)
TPs: Depends on the Objective of your trade plan.
TP1: 38.20% of AD leg (Highest point to Completion in
its bullish version.
TP2: 61.80% of AD leg.
Bat pattern gives you a lower price on where to trade with minimal of risk as prior to a continuation
of the market trend.
Rules or Fib Ratio of Bat:
XA point
- impulsive leg - ideal
AB point
- 38.20% to/but not equal to 61.80% XA leg
Price touch 61.80% XA leg could be a Gartley.
Modified: Price break 61.8% XA but close just
above 61.8% XA is still a valid Bat (bull version).
Ideal B point: Price Ranging between the 50% - 61.80% XA
BC point
- atleast 38.2% AB but must not be equal
or exceed the pattern's A point price.
D completion - 88.60% XA leg. Buy in its Bull version.
How to trade the Bat Pattern:
Entry: 88.60% or once pattern is completed.
Wait for confirmation - Price Action
SL: Just below Pattern's X point (Envisaging Support)
TPs: Depends on the Objective of your trade plan.
TP1: 38.20% of AD leg (Highest point to Completion in
its bullish version.
TP2: 61.80% of AD leg.