(although not completely qualifying the final leg). The American approach assumes that all patterns with a rollback of less than 50 are not usable. You need to have 4 points or 4 swings high/low points that bind together and form the harmonic bat pattern strategy. Take a look: This is a perfect example that demonstrates how useful the harmonic bat pattern strategy is in implementing the multiple take profit approach. One of the key features of the Bat pattern market strategy is the smooth reversal once the.6 Fibonacci retracement is reached. You can ask what forex brokers give the best introductory rates me questions and comment on the article below. Cypher harmonic pattern but it follows different Fibonacci ratios. BC then rallies to retrace.6 of the XA leg, within the limits.6. You can also trade with the Gartley Pattern Strategy. See below Step #4: How to Trade the Bat Pattern - Take TP1 at Wave C and TP2 at Wave A There can be many ways to manage your trades, but the optimal target for this pattern should be to implement a multiple take profit. Normally you want to place your protective stop loss below the point X of a harmonic bat pattern.
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The chart below shows an example of the harmonic bullish and bearish Bat patterns. This pattern is liked by many for its accuracy, good risk/reward ratio and relatively frequent appearance on charts. Victoria Victoria, Mahe, Seychelles. The content of this article reflects the authors opinion and does not necessarily reflect the official position of LiteForex. We recommend that you take the time and backtest the harmonic bat patterns strategy before attempting to use this advanced pattern in your trading strategy. Setting Targets, targets for Bat patterns are similar to the Gartley patterns. For bearish patterns, enter a "short" trade one tick below the low of the lower-low or wide-range bar. Its necessary to read the introductory article into the harmonic patterns as this will give you a better understanding of how to trade the bat pattern. Note* The above was an example of a BUY trade using the Bullish Bat pattern market strategy. It is considered to be one of the more accurate patterns exhibiting a higher success rate than any other harmonic patterns. Below are the schematic pictures of the Bullish and Bearish Bat patterns.
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