WTI Bearish Bat H1
Sell @ 52.47
T/P 50.51
S/L 54
The Bat
The bat pattern is similar to Gartley in appearance, but not in measurement.
Let's look at the bullish example. There is a rise via XA. B retraces 0.382 to 0.5 of XA. BC retraces 0.382 to 0.886 of AB. CD is a 1.618 to 2.618 extension of AB. D is at a 0.886 retracement of XA. D is the area to look for a long, although wait for the price to start rising before doing so. A stop loss can be placed not far below.
For the bearish pattern, look to short near D, with a stop loss not far above.
RadioForex
T/P 50.51
S/L 54
The Bat
The bat pattern is similar to Gartley in appearance, but not in measurement.
Let's look at the bullish example. There is a rise via XA. B retraces 0.382 to 0.5 of XA. BC retraces 0.382 to 0.886 of AB. CD is a 1.618 to 2.618 extension of AB. D is at a 0.886 retracement of XA. D is the area to look for a long, although wait for the price to start rising before doing so. A stop loss can be placed not far below.
For the bearish pattern, look to short near D, with a stop loss not far above.
RadioForex
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.