GBPUSD - Potential Bat
The Bat pattern is a precise harmonic pattern that frequently yields exact and sharp reversals.
The 0.886 retracement is a powerful completion point and the defining limit within the PRZ.
1. B point retracement of the XA leg must be less than 0.618 with a 0.50 or 0.382
retracement preferred.
2. Precise 0.886 D point retracement of the XA leg as the defining limit within
the PRZ.
3. Minimum 1.618 BC projection with extreme extensions (2.0–2.618) possible.
4. Minimum AB=CD completion, although an Alternate 1.27 AB=CD is more common
and preferred.
5. C point retracement can vary between a 0.382 to an 0.886.
The 0.886 retracement is a powerful completion point and the defining limit within the PRZ.
1. B point retracement of the XA leg must be less than 0.618 with a 0.50 or 0.382
retracement preferred.
2. Precise 0.886 D point retracement of the XA leg as the defining limit within
the PRZ.
3. Minimum 1.618 BC projection with extreme extensions (2.0–2.618) possible.
4. Minimum AB=CD completion, although an Alternate 1.27 AB=CD is more common
and preferred.
5. C point retracement can vary between a 0.382 to an 0.886.
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