Bat Chart Pattern is a member of chart
pattern, it considered as an extend ot Gartley pattern we talked about before, the different in this pattern that the bull back after the impulisve wave dosen't reach the 68 fibonacci line, then it goes in the main trend direction for a while but till the line 23.
It's very similar to Gartley
pattern, actuly it consider a failed Gartley pattern, but
fortunately
it draws another effective pattern which is our pattern in
this lesson, the bat pattern.
So after teaching
the 23 line, it resumes going opposite the trend direction
till touch the 88 Fibonacci line, the start to go in the trend
direction again, and here we can open a position according to
you money management system you used to
following.
Below is a
samble from the real trading life, go back to that date and
it's better to make a backtesting to see and understand the
stock moves.
This
is very nice sample, I got this in March 18, at 11:55 AM using
EUR/JPY pair 5 min time frame, check that date in your
framework and try to get used of the pattern to catch it
easily bu the time.
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