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Bearish Bat

Dollar Index - Bearish Bat at weekly resistanceBearish bat has formed and has quickly rejected the PRZ which is a good sign the pattern is valid. MACD histogram divergence and huge weekly resistance is still in play. It could possibly be broken given its been tested so much This is the first time using harmonics on the dollar index so I am not taking a large position. Most likely this is a necessary retracement of the dollar before we can make one final leg to finish 2018 as we begin to see signs we are at the end of the current business cycle
TVC:DXYShort
by actavis89
Counter Trend Bear Bat on U-Cad As shown on the chart this is almost a perfect Bear Bat as described in Scott Carney's book. what is preventing this from being a perfect Bat is that the "C" point retraced more than 50%. Due to this being a counter trend trade I am aiming for less than half TP. the stop loss is a few pips below the "X" point. this is in part that if Price Action exceeds the Starting point the pattern breaks down and is invalid. it is also worth noting that in Scott Carney's book he ascribes the Bat pattern as one of the more precise patterns because of the powerful .886 retracement. there would be a PRZ, but the 2.0 "BC" projection and the .886 "XA" retrace lined up nearly perfect! once price gets close to the .886 it should become a bit more volatile!
Short
by ARegularGuy