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.
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The PRZ zone is only a guideline of where we will be paying attention for trade setups and opportunity's.