ALT BAT in play - Fill the gap time
886 nad 113 tested
Bat pattern, a peculiarity can be noticed in those structures that possessed a 0.382 retracement or less at the mid-point (B). These variations frequently resulted in an eventual completion that was slightly beyond the expected 0.886 retracement of the standard framework. After slightly exceeding the initial point at X of the pattern and triggering stop loss, many of these reversals would turn shortly thereafter, usually at the 1.13 extension of the structure. The pattern incorporates the 1.13XA retracement, as the defining element in the Potential Reversal Zone (PRZ).
The B point retracement must be a 0.382 retracement or less of the XA leg. The Alternate Bat utilizes a minimum 2.0BC projection. In addition, the AB=CD pattern within the Alternate Bat is always extended and usually requires a 1.618 AB=CD calculation. The Alternate Bat is an incredibly accurate pattern that works exceptionally well in the RSI BAMM divergence setup.
886 nad 113 tested
Bat pattern, a peculiarity can be noticed in those structures that possessed a 0.382 retracement or less at the mid-point (B). These variations frequently resulted in an eventual completion that was slightly beyond the expected 0.886 retracement of the standard framework. After slightly exceeding the initial point at X of the pattern and triggering stop loss, many of these reversals would turn shortly thereafter, usually at the 1.13 extension of the structure. The pattern incorporates the 1.13XA retracement, as the defining element in the Potential Reversal Zone (PRZ).
The B point retracement must be a 0.382 retracement or less of the XA leg. The Alternate Bat utilizes a minimum 2.0BC projection. In addition, the AB=CD pattern within the Alternate Bat is always extended and usually requires a 1.618 AB=CD calculation. The Alternate Bat is an incredibly accurate pattern that works exceptionally well in the RSI BAMM divergence setup.
Note
AB=CD forming on 618 retraceThat would take us to the bottom after the gap.
Note
solid short term trades on the 113 to 886 played out nicelyNote
ALT BAT has potential segments for trading, if not familiar with the setups, I would suggest reading Harmonic trader VOl 2.Doesnt look like the gap will get filled quite yet, lets find another setup
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.