April 2010
Intermediate to advanced
288 pages
5h 42m
English
book
Harmonic Trading, Volume One: Profiting from the Natural Order of the Financial Markets
by Scott M. Carney
Content preview from Harmonic Trading, Volume One: Profiting from the Natural Order of the Financial Markets
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Chapter 5. The Bat Pattern
The Bat pattern is a precise harmonic pattern that I discovered in 2001. The Bat pattern is probably the most accurate pattern in the entire Harmonic Trading arsenal. The pattern possesses many distinct elements that define an excellent Potential Reversal Zone (PRZ). The pattern typically represents a deep retest of support or resistance that can frequently be quite sharp. Quick reversals from Bat pattern PRZs are common. In fact, valid reversals from Bat patterns frequently possess price action that is quite extreme.
The pattern incorporates the powerful 0.886 XA retracement, as the defining element in the PRZ. The B point retracement must be less than a 0.618, preferably a 0.50 or 0.382 of the XA leg. The most ideal ...
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