Guys, a potential bat advanced formation
is on my radar today. Advanced
formations are traded differently as compared to harmonic patterns
. They are more agressive and require no Terminal Price Bar. Simple limit order with stops and targets as defined on the chart. The targets adjustment rule: When price exceeds the potential pivot point
the pattern is considered valid as long as price doesn't touch the X-point. Wherever within this zone the reversal happens it should be marked as a D-point. Targets are calculated as 0.382AD and 0.618AD. Thus this strategy is not a "set-and-forget" method. It requires some trade management.