Trading the Bat pattern

How to trade bat pattern

The entry is at point D. As usual, confirmation of the market’s reversal is necessary.

Take Profit may be at 61.8% of CD (TP1), 127.2% of CD (TP2), and/or the projection of XA from D (TP3).

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.

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

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