Hi TradingView community!
Here we have a bearish bat pattern on EUR/USD visible on the 4 hour chart.
Conditions for a valid bat pattern are:
Take profit is set at 0.382 and 0.618 retracements of AD. At target 1, half position will be closed and the stop loss moved to breakeven.
Good luck!
Here we have a bearish bat pattern on EUR/USD visible on the 4 hour chart.
Conditions for a valid bat pattern are:
- AB leg can retrace between 0.382 – 0.5 of XA leg
- BC leg can retrace between 0.382 – 0.886 of AB leg
- CD leg can retrace up to 0.886 of XA leg
- CD leg can also be an extension of between 1.618 – 2.618 of AB leg
Take profit is set at 0.382 and 0.618 retracements of AD. At target 1, half position will be closed and the stop loss moved to breakeven.
Good luck!
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