bat advanced formation
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Bat Advanced formation
Bat Tools:
*Fibonacci retracements (38.2%, 50%, 61.8% and 88.6%)
Bat Timeframes:
*The Bat Advanced formation was originally designed as a swing trading strategy. But it also works on lower timeframes.
Bat Tactics:
*Seek to identify 4 market moves and 3 major Fibonacci zones. The combination of these moves forms the points (X, A, B, C, D) that fulfill the formation.
Rules of engagement: Criteria 1
The Bat Advanced formation starts with an impulse leg/anchor leg that establishes our X and A points.
Once X and A points have been identified, we then look for our first criteria.
Criteria 1: The market forms the B completion point by fulfilling at least a 50% retracement of the XA leg.
Note: AB move remains valid as long as there is at least a 50% retracement of XA and that it does not touch the 61.8% retracement of XA. Only candlewick is calculated here. Candle close is not important.
Rules of engagement: Criteria 2
If criteria 1 has been met, then look for criteria 2.
Criteria 2: The market forms the C completion point by fulfilling at least a 38.2% retracement of the AB.
Note: BC move remains valid as long as there is at least a 38.2% retracement of AB and that it does not extend past A. Only candlewick is calculated here. Candle close is not important.
Rules of engagement: Criteria 3
If criteria 1 and 2 have been met, then look for criteria 3.
Criteria 3: The market forms the D completion (entry point) by fulfilling a 88.6% XA.
Note: D point never extends past X.
Trade management: Entry, stops & targets.
Bat Entry: Limit order is placed at D completion point.
Bat Target 1: 38.2% retracement of AD leg. When attained half of the position closes & stop moves to breakeven.
Bat Target 2: 61.8% retracements of AD leg.
Bat Stop placement: Stop always goes past X. Either 113% XA extension or 1 ATR beyond X, or 1 to 1 measured distance to the first target.
Bat Tools:
*Fibonacci retracements (38.2%, 50%, 61.8% and 88.6%)
Bat Timeframes:
*The Bat Advanced formation was originally designed as a swing trading strategy. But it also works on lower timeframes.
Bat Tactics:
*Seek to identify 4 market moves and 3 major Fibonacci zones. The combination of these moves forms the points (X, A, B, C, D) that fulfill the formation.
Rules of engagement: Criteria 1
The Bat Advanced formation starts with an impulse leg/anchor leg that establishes our X and A points.
Once X and A points have been identified, we then look for our first criteria.
Criteria 1: The market forms the B completion point by fulfilling at least a 50% retracement of the XA leg.
Note: AB move remains valid as long as there is at least a 50% retracement of XA and that it does not touch the 61.8% retracement of XA. Only candlewick is calculated here. Candle close is not important.
Rules of engagement: Criteria 2
If criteria 1 has been met, then look for criteria 2.
Criteria 2: The market forms the C completion point by fulfilling at least a 38.2% retracement of the AB.
Note: BC move remains valid as long as there is at least a 38.2% retracement of AB and that it does not extend past A. Only candlewick is calculated here. Candle close is not important.
Rules of engagement: Criteria 3
If criteria 1 and 2 have been met, then look for criteria 3.
Criteria 3: The market forms the D completion (entry point) by fulfilling a 88.6% XA.
Note: D point never extends past X.
Trade management: Entry, stops & targets.
Bat Entry: Limit order is placed at D completion point.
Bat Target 1: 38.2% retracement of AD leg. When attained half of the position closes & stop moves to breakeven.
Bat Target 2: 61.8% retracements of AD leg.
Bat Stop placement: Stop always goes past X. Either 113% XA extension or 1 ATR beyond X, or 1 to 1 measured distance to the first target.
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