Kinnari_Prajapati

Perfect illustartion of Bat Pattern.

Education
NSE:BHEL   BHARAT HEAVY ELECT
The Bat Pattern , is a precise harmonic pattern™ discovered by Scott Carney in 2001

The pattern incorporates the 0.886XA retracement, as the defining element in the Potential Reversal Zone (PRZ).

The B point retracement must be less than a 0.618, preferably a 0.50 or 0.382 of the XA leg. The Bat utilizes a minimum 1.618BC projection.

In addition, the AB=CD pattern within the Bat pattern is extended and usually requires a 1.27 AB=CD calculation. It is an incredibly accurate pattern and requires a smaller stop loss than most patterns.
Comment: High - 37.5 (target achieved)
Trade closed: target reached