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Bat

Information is not investment advice

The Bat pattern is a variation of the harmonic pattern Gartley pattern. The outlines of these patterns are the same, the difference is in Fibonacci ratios that define the positions of the main points.

Bat.png

Let’s have a look at the parameters of a Bat pattern:

- Point B is at the 38.2-50% retracement of XA.

- Point C can be at the 38.2%-88.6% retracement of AB.

- Point D can be found at the 161.8%-261.8% extension of AB or at the 88.6% retracement of XA.

How to trade

The entry is at the point D. As usual, a confirmation of the market’s reversal here is necessary. Take Profit may be at 61.8% of CD (TP1), 127.2% of CD (TP2), and/or the projection of XA from D (TP3). Put a Stop Loss in line with your rules of risk management.

Let's have a look at the example of the bullish Bat pattern on the chart.

Screenshot_5.png

You can see that the point B is at about the 61.8% retracement of XA, the point C is at the 88.6% retracement of AB, while the point D is near the 88.6% retracement of XA. The Fibo ratios are not exactly the same as at the scheme, but they are close enough. Notice that a "harami" candlestick pattern was formed at the point D confirming the price's reversal to the upside.

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Assets Won’t Survive This Week

As Europe moves into recession, next week may provide us with some amazing trading opportunities. Here they are!

Post-Fed Releases for USD & CAD Traders

Main news that will drive the market in the upcoming week include CB Consumer Confidence Index, Canadian GDP, and US Core PCE Price Index

FED and BOE Make Another Attempt to Beat Inflation

The Federal Reserve (Fed) will announce its Interest Rate Decision and make a statement about the future monetary policy on Wednesday, September 21, GMT+3. After the higher-than-expected inflation numbers published on September 13, there’s almost no doubt the Federal Reserve will come up with another 75-basis-point rate hike. However, surprised by the CPI numbers, several Fed members announced the possibility of a 100-basis-point rate hike on Wednesday.

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