The Specification of Alt. Bat Patterns are the following: The B point retracement must be a 0.382 retracement. It must have a minimum 2.0BC projection . Requires a 1.618 AB=CD calculation. For the targets, I used a previous important level as 171.8 & 168.9 OR you can also use retracement level to secure your profit.
Quick reversals from Bat pattern PRZs are quite common. The mid-point "B" at exactly 50% retracement. Alternate 1.27AB=CD pattern. BC projection @61.8%. The price quickly reversal seen after "D". Question of Harmonic Trader/Analyst is , Bat Or Gartley? Why did birth to this question? - The Gartley Pattern required point "B "50% and 1.27AB=CD ...
2.0BC projection more than it. 1.618 AB=CD @ 169.45 1.13 extension is the Potential Reversal Zone. T-Bar should be as per requirement of Alternate Bat Pattern for Reversal at 172.75/174.4. The expected fall can below 169.3.
SWING trading opportunity target = 6805 CMP = 7112 Stoploss= 7296 ( one can even modify it ) lot size = 100 check out my related idea on granules on harmonic pattern it achieved the target FOLLOW for more ! LIKE if works ! COMMENT your view !
The price will move upwards towards the PRZ area where I can expect selling pressure and price can fall up-to 38.2 or 61.8%. Let's watch for the Terminal Bar near the PRZ area to execute the trade.
The mid-point "B" has retraced 50% of leg XA. Either the Alternate 2AC=CD at 1.16791, or 1.618 AB=AC The 0.886 "D" point retracement of XA leg as defined at 1.17108 is the starting of the PRZ to enter a long position after the Terminal Bar is verified. The range of the PRZ is 300 pips starting from 1.17108 to 1.16791. The TERMINAL BAR of this pattern...
(i) A Bullish Bat pattern is defined when the B point is less than a 0.618% retracement and In the above chart there is 50% B point of XA leg retraced. (ii) A Bearish Bat Pattern occasionally forms after retracing from a critical high point. ie, 3388.70 the retracement 0.886 will occur close to the prior high when completed, which is X. Wait for the...
Good Profit can be made by going long
NSE:HINDPETRO #HINDPETRO have formed a bullish candlestick pattern around the bullish Harmonic pattern with bullish divergence on the daily chart but 170 being the imidate resistance looking at the past price structure. ABOVE 170 WE CAN SEE THE STOCK TO GIVE A GOOD MOVE TILL 177 / 186 / 199 TRAILING SL IS MUST KEEP PREVIOUS 3 BAR CANDLESTICK AS SL AND CAN TRAIL....
Tata Steel Sell E: 432.15 - 436.75 S: 443.65 T: 415.70 - 405.55 - 397.35 & more
Follow these three rules to take a trade : 1. It should break the ongoing triangle pattern. 2. The breaking candle should have high volume. 3. There should be a retest. 4. Take the entry at the second green candle after retest. Do comment if you have any other doubts as well.
BPCL Buy E: 318.20 - 308.75 S: 291.80 T: 342.30 - 360.20 - 374.70 & more
Bullish Bat pattern forming on Daily Chart of MGL. BUY 715, SL 662.9, Target(s) - 765, 780.
Grasim Bearish bat pattern formation,, good short candidate,, details mentioned in chart...
Bearish Bat pattern forming on 2H Chart of ASIAN PAINTS. SELL 2042, SL 2058.1, Target(s) - 2030, 2020.
Expecting price to consolidate in the PRZ region and go for a correction. Possibilities of a Bearish Wolfe Wave formation exist.