Welcome guys once again, our tutorial today ought to have been identifying
the Alternate Bat Pattern and as promised in my last post, but sorry to disappoint you
all because, I am going to digress a bit and start with the pattern proper on my
we go into the meat of today’s topic, let me give you guys a cheat sheet or a
quick guide that would act like a map in identifying this patterns, using the Fibonacci
tool to find certain zones/retracement and extensions that distinguishes one
pattern from the other…refer to the image below and try to familiarize yourself
with those zones as outlined on the it:
possible retracement areas to look out for on your chart as price retraces or
pullback…like I explained in my previous post- Types of Harmonic Patterns and How to Trade Them
,you might want to read it again if you’ve forgotten.
look for because this point will tell us in advance what potential harmonic pattern
formation we should expect, so take note of this…Now a brief explanation of
color coded zones:
between the 38% – 50% retracement level, then we should expect a likely
Harmonic Bat pattern formation.
50% – 61.8% Fib retracement level, we should anticipate a potential Gartley or
Crab Harmonic pattern.
zone between the 61.8% – 78.6% level, we should expect a likely Gartley or
Butterfly Harmonic pattern.
Yellow Zone: As price
retraces and stalls at the 88.6% level we should expect nothing short of the
Deep Crap Harmonic Pattern .
Try and familiarize yourself with
those zones, I’ll stop here for now and start with the patterns proper on my
next tutorial….Use the comment box below to express yourself and ask the