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Bat

Information is not investment advice

The Bat pattern is a variation of the harmonic pattern Gartley pattern. The outlines of these patterns are the same, the difference is in Fibonacci ratios that define the positions of the main points.

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Let’s have a look at the parameters of a Bat pattern:

  1. Point B is at the 38.2-50% retracement of XA.
  2. Point C can be at the 38.2%-88.6% retracement of AB.
  3. Point D can be found at the 161.8%-261.8% extension of AB or at the 88.6% retracement of XA.

How to trade Bat pattern

  1. The entry is at the point D. As usual, a confirmation of the market’s reversal here is necessary.
  2. Take Profit may be at 61.8% of CD (TP1), 127.2% of CD (TP2), and/or the projection of XA from D (TP3).
  3. Put a Stop Loss in line with your rules of risk management.

Let's have a look at the example of the bullish Bat pattern on the chart.

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You can see that the point B is at about the 61.8% retracement of XA, the point C is at the 88.6% retracement of AB, while the point D is near the 88.6% retracement of XA. The Fibo ratios are not exactly the same as at the scheme, but they are close enough. Notice that a "harami" candlestick pattern was formed at the point D confirming the price's reversal to the upside.

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