Bat Pattern Elements:
• B point at a less than a 0.618 retracement of XA, preferably a distinct 50% or
38.2% retracement.
• BC projection must be at least 1.618.
• AB=CD pattern is usually extended.
• 0.886 XA retracement.
• C point with range between 0.382 and 0.886.
Ref:
From: page 72 , Scott Harmonic Trading volume 1.
Simply : the Bat is M shape
B: 0.382 - 0.5 can't be less or more, but fine in between.
C: Above B and below A, and opposite in opposite drawing
D: is 0.886 from XA
This is a very simple way to memorize it and master it. the rest is in the book.
Simple if you trade Elliott, this could be X=0 A=1 B= Corrective wave A , C= Corrective wave C , D= Corrective wave C to complete ABC correction which will be point 2
What ever you trade Harmonic or Elliott , the structure is the same , just different names.
If you trade classic price actin
Point C is lower high compare to the high of A, breaking B ( previous low ) initiate a sell.
This is a simple and effective way: this is called Bullish Bat, because they look at the move from D point going up.
AT D : PRZ : Potential reversal zone, which mean price could rise from there and reverse to the up side.
I myself trade within the pattern, every move, could be traded, especially in larger time frames.
@UnknownUnicorn305 added a new Emoji feature: U can add smile or marks to your drawing, called signpost where text is, just find it and check it out. cool stuff.
are you a harmonic trader ?
• B point at a less than a 0.618 retracement of XA, preferably a distinct 50% or
38.2% retracement.
• BC projection must be at least 1.618.
• AB=CD pattern is usually extended.
• 0.886 XA retracement.
• C point with range between 0.382 and 0.886.
Ref:
From: page 72 , Scott Harmonic Trading volume 1.
Simply : the Bat is M shape
B: 0.382 - 0.5 can't be less or more, but fine in between.
C: Above B and below A, and opposite in opposite drawing
D: is 0.886 from XA
This is a very simple way to memorize it and master it. the rest is in the book.
Simple if you trade Elliott, this could be X=0 A=1 B= Corrective wave A , C= Corrective wave C , D= Corrective wave C to complete ABC correction which will be point 2
What ever you trade Harmonic or Elliott , the structure is the same , just different names.
If you trade classic price actin
Point C is lower high compare to the high of A, breaking B ( previous low ) initiate a sell.
This is a simple and effective way: this is called Bullish Bat, because they look at the move from D point going up.
AT D : PRZ : Potential reversal zone, which mean price could rise from there and reverse to the up side.
I myself trade within the pattern, every move, could be traded, especially in larger time frames.
@UnknownUnicorn305 added a new Emoji feature: U can add smile or marks to your drawing, called signpost where text is, just find it and check it out. cool stuff.
are you a harmonic trader ?
