Bat
The Bat Pattern is a 5-point retracement structure that was discovered by Scott Carney in 2001. It has specific Fibonacci measurements for each point within its structure and it is important to note that D is not a point, but rather a zone in which price is likely to reverse, called the Potential Reversal Zone (PRZ). The B point retracement of the primary XA leg must be less than a 0.618, preferably a 0.50 or 0.382 and the PRZ consists of 3 converging harmonic levels: 1) 0.886 retracement of the primary XA leg, 2) extended AB=CD pattern, usually 1.27 AB=CD and 3) minimum BC projection is 1.618.
The first target would be the 382 retracement of AD and the second target the 618 retracement of AD. A common stop level would be behind the X-point. Conservative traders may look for additional confirmation. Bat Patterns can be bearish and bullish.
Crab
The Crab Pattern is a volatile 5-point extension structure that was discovered by Scott Carney in 2000. It has specific Fibonacci measurements for each point within its structure and it is important to note that D is not a point, but rather a zone in which price is likely to reverse, called the Potential Reversal Zone (PRZ). The B point retracement of the primary XA leg lies between 0.382 and 0.618 and the PRZ consists of 3 converging harmonic levels: 1) 1.618 extension of the primary XA leg, 2) AB=CD pattern, either equivalent, 1.27 or 1.618 and 3) Extreme BC projection of 2.24, 2.618, 3.14 or 3.618.
The first target would be the 382 retracement of AD and the second target the 618 retracement of AD. Common stop levels lie behind the next structure level after the D point or the 2.0 extension of XA. Conservative traders may look for additional confirmation. These patterns can be bearish and bullish.
The Bat Pattern is a 5-point retracement structure that was discovered by Scott Carney in 2001. It has specific Fibonacci measurements for each point within its structure and it is important to note that D is not a point, but rather a zone in which price is likely to reverse, called the Potential Reversal Zone (PRZ). The B point retracement of the primary XA leg must be less than a 0.618, preferably a 0.50 or 0.382 and the PRZ consists of 3 converging harmonic levels: 1) 0.886 retracement of the primary XA leg, 2) extended AB=CD pattern, usually 1.27 AB=CD and 3) minimum BC projection is 1.618.
The first target would be the 382 retracement of AD and the second target the 618 retracement of AD. A common stop level would be behind the X-point. Conservative traders may look for additional confirmation. Bat Patterns can be bearish and bullish.
Crab
The Crab Pattern is a volatile 5-point extension structure that was discovered by Scott Carney in 2000. It has specific Fibonacci measurements for each point within its structure and it is important to note that D is not a point, but rather a zone in which price is likely to reverse, called the Potential Reversal Zone (PRZ). The B point retracement of the primary XA leg lies between 0.382 and 0.618 and the PRZ consists of 3 converging harmonic levels: 1) 1.618 extension of the primary XA leg, 2) AB=CD pattern, either equivalent, 1.27 or 1.618 and 3) Extreme BC projection of 2.24, 2.618, 3.14 or 3.618.
The first target would be the 382 retracement of AD and the second target the 618 retracement of AD. Common stop levels lie behind the next structure level after the D point or the 2.0 extension of XA. Conservative traders may look for additional confirmation. These patterns can be bearish and bullish.