The Bat is defined by the .886 retracement of move XA as Potential Reversal Zone. The Bat pattern has the following qualities:
Move AB should be the .382 or .500 retracement of move XA.
Move BC can be either .382 or .886 retracement of move AB.
If the retracement of move BC is .382 of move AB, then CD should be 1.618 extensions of move BC. Consequently, if move BC is .886 of move AB, then CD should be 2.618 extensions of move BC.
CD should be .886 retracement of move XA.
The “perfect” crab pattern must have the following aspects:
Move AB should be the .382 or .618 retracement of move XA.
Move BC can be either .382 or .886 retracement of move AB.
If the retracement of move BC is .382 of move AB, then CD should be 2.24 of move BC. Consequently, if move BC is .886 of move AB, then CD should be 3.618 extensions of move BC.
CD should be 1.618 extensions of move XA.
Move AB should be the .382 or .500 retracement of move XA.
Move BC can be either .382 or .886 retracement of move AB.
If the retracement of move BC is .382 of move AB, then CD should be 1.618 extensions of move BC. Consequently, if move BC is .886 of move AB, then CD should be 2.618 extensions of move BC.
CD should be .886 retracement of move XA.
The “perfect” crab pattern must have the following aspects:
Move AB should be the .382 or .618 retracement of move XA.
Move BC can be either .382 or .886 retracement of move AB.
If the retracement of move BC is .382 of move AB, then CD should be 2.24 of move BC. Consequently, if move BC is .886 of move AB, then CD should be 3.618 extensions of move BC.
CD should be 1.618 extensions of move XA.
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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.