POTENTIAL BEARISH BAT ON BAJAJ AUTO ( 1 HR) CHART
HARMONIC BAT : It is considered to be one of the more accurate patterns exhibiting a higher success rate than any other harmonic patterns.The Harmonic Bat pattern has the following characteristics which can be used to identify the Bat pattern.
• B point at a less than a 0.618 retracement of XA, preferably a distinct 50% or
38.2% retracement.
• "BC" leg projection must be at least 1.618.
• AB=CD pattern is usually extended.
• 0.886 XA retracement.
• C point with range between 0.382 and 0.886.
STOP would be above the Potential Reversal Zone (PRZ).
For Targets , please refer the chart.
• B point at a less than a 0.618 retracement of XA, preferably a distinct 50% or
38.2% retracement.
• "BC" leg projection must be at least 1.618.
• AB=CD pattern is usually extended.
• 0.886 XA retracement.
• C point with range between 0.382 and 0.886.
STOP would be above the Potential Reversal Zone (PRZ).
For Targets , please refer the chart.
Note
The PRZ zone is only a guideline of where we will be paying attention for trade setups and opportunity's.Trade active
Price rejected from the PRZTrade active
Approaching target 1Trade active
Target 1 reached
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