Bat

Bat

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.

Bat trading pattern

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.

the bullish Bat pattern on the chart

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.

Latest news

Currency market on December 9

The main attention of traders is paid to the news concerning the US-China developments ahead of the US tariffs deadline scheduled on December 15.

5 important events this week will bring us

The UK Parliament election, American and European interest rates announcements and monetary policy press conferences - all of these are going to take place this week.

Is the Fed holding the rate?

The Federal Funds Rate is announced at 21:00 MT time on December 11.

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