GBPUSD - Potential Bat
The Bat pattern is a precise harmonic pattern that frequently yields exact and sharp reversals.
The 0.886 retracement is a powerful completion point and the defining limit within the PRZ.
1. B point retracement of the XA leg must be less than 0.618 with a 0.50 or 0.382
retracement preferred.
2. Precise 0.886 D point retracement of the XA leg as the defining limit within
the PRZ.
3. Minimum 1.618 BC projection with extreme extensions (2.0–2.618) possible.
4. Minimum AB=CD completion, although an Alternate 1.27 AB=CD is more common
and preferred.
5. C point retracement can vary between a 0.382 to an 0.886.
The 0.886 retracement is a powerful completion point and the defining limit within the PRZ.
1. B point retracement of the XA leg must be less than 0.618 with a 0.50 or 0.382
retracement preferred.
2. Precise 0.886 D point retracement of the XA leg as the defining limit within
the PRZ.
3. Minimum 1.618 BC projection with extreme extensions (2.0–2.618) possible.
4. Minimum AB=CD completion, although an Alternate 1.27 AB=CD is more common
and preferred.
5. C point retracement can vary between a 0.382 to an 0.886.
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.