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Bat

Perfect illustartion of Bat Pattern.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.
NSE:BHELEducation
by Trade-Technique
10
CNX FINANCIAL good short candidateCNX Financial Spot CMP 14200 Bearish Bat Pattern Formation PRZ range 13950-14150 SLZ zone 14750 Down side 12500-12000-11500 possible. Any reversal below PRZ zone that is below 13950 would confirm reversal,, Index can see good retracement below this levels once pattern reversal confirms. RSI Divergence :- Price making higher high, RSI making lower high,, Bearish divergence, RSI overbought .. Eliot wave :- 3rd Impulse wave of Impulse phase is on verge to mature,, wave 3 have extended around 2% of wave 1.. as per theory wave 3 can be around 1.618,,2,,2.618 % of wave 1,, If Corrective wave 4 unfolds from this levels we can see retracement of 0.236 to 0.382% of wave 3.. Price wise which can be around 12500 to 12000 levels.
NSE:CNXFINANCEShort
by RUDRA007