Beat the BATS - Harmonic Bat PatternsHi Traders, Investors and Speculators 📉📈
Ev here. Been trading crypto since 2017 and later got into stocks. I have 3 board exams on financial markets and studied economics from a top tier university for a year. Daytime job - Math Teacher. 👩🏫
In today's analysis, we'll look at a different way to speculate the next immediate price action of an asset : the Harmonic Bat Patterns. There is a really cool tool on the platform that you can use called the Cypher Pattern, you can find this in your drawing toolbar, 5th from the top under the T for text. It helps you plot the points and identifies the correct distance for you clearly. I'm using it HERE :
From the chart, you can clearly see the bullish and the bearish bat example. If you move your mouse over the grey anchors, you will find the values that the distances between two points need to be. Spotting these patterns are extremely difficult and it takes a trained eye to spot them on a chart. However, if you're lucky enough to spot one, you have a clear trading setup with a high probability of win rate. NOTE that even though there are similarities, these are not the same as W-bottom patterns or M-patterns.
I hope you enjoyed and found value in this educational post today!
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