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Alexander_nikitin

bat advanced formationBat Advanced formation Bat Tools: *Fibonacci retracements (38.2%, 50%, 61.8% and 88.6%) Bat Timeframes: *The Bat Advanced formation was originally designed as a swing trading strategy. But it also works on lower timeframes. Bat Tactics: *Seek to identify 4 market moves and 3 major Fibonacci zones. The combination of these moves forms the points (X, A, B, C, D) that fulfill the formation. Rules of engagement: Criteria 1 The Bat Advanced formation starts with an impulse leg/anchor leg that establishes our X and A points. Once X and A points have been identified, we then look for our first criteria. Criteria 1: The market forms the B completion point by fulfilling at least a 50% retracement of the XA leg. Note: AB move remains valid as long as there is at least a 50% retracement of XA and that it does not touch the 61.8% retracement of XA. Only candlewick is calculated here. Candle close is not important. Rules of engagement: Criteria 2 If criteria 1 has been met, then look for criteria 2. Criteria 2: The market forms the C completion point by fulfilling at least a 38.2% retracement of the AB. Note: BC move remains valid as long as there is at least a 38.2% retracement of AB and that it does not extend past A. Only candlewick is calculated here. Candle close is not important. Rules of engagement: Criteria 3 If criteria 1 and 2 have been met, then look for criteria 3. Criteria 3: The market forms the D completion (entry point) by fulfilling a 88.6% XA. Note: D point never extends past X. Trade management: Entry, stops & targets. Bat Entry: Limit order is placed at D completion point. Bat Target 1: 38.2% retracement of AD leg. When attained half of the position closes & stop moves to breakeven. Bat Target 2: 61.8% retracements of AD leg. Bat Stop placement: Stop always goes past X. Either 113% XA extension or 1 ATR beyond X, or 1 to 1 measured distance to the first target.
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by Alexander_Nikitin
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