Hey mates, this is a bat advanced formation, not a bat pattern. How can you distinguish between the two? Read further: 1. A bat pattern B-point lays within 0.382XA-0.618XA range. A bat advanced formation B-point is within 0.5XA-0.618XA. 2. Bat pattern C-point is 0.382AB-0.886AB. Bat advanced fomation C-point is 0.382AB-1AB 3. Bat pattern D-point is a termination bar that crosses the confluence of fibs: 0.886XA, 1.272/1.618AB=CD and 1.618/2BC inversion. Bat advanced formation D-point is whatever bar that touches 0.886XA. 4. Bat pattern is traded at market: when termination bar appears need to have an RSI divegence for a valid entry. Bat advanced formation is traded with limit orders. 5. Bat pattern stops are usually based on money/ATR value above the termination bar. (this means sometimes bat pattern stops can be placed before X). Bat advanced formation stops ALWAYS placed beyond X.
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Best regards. Alexander Nikitin. A professional trader, programmer and a trading coach.