The Bat Pattern-How to Identify it on the chart

Identifying the Bat Pattern is pretty simple. This pattern
formation occurs frequently on the financial market just like the Alternate
Bat Pattern
.What differentiates the Bat pattern from the alternate bat
pattern is the 88.6% retracement of XA leg as it the defined PRZ and the 113%
extension of the XA leg that the alternate Bat pattern, other than this every
other area remains the same.

The Bearish Bat Pattern:
This pattern as
illustrated in the image below is more like an W-type formation that makes use
of the 88% XA leg retracement of the Fibonacci tool, as the defining
support level in the Potential Reversal Zone{PRZ}.And the BC projection use an
extreme harmonic ratio that is at least a 161.8% extension.
In the above image the 88.6% retracement is the minimum resistance
level to help us define the completion of the Bat Pattern, while the meeting of
the 88.6% retracement of   XA leg and the extreme BC projections of
161.8% highlights the Potential Reversal Zone{PRZ}.

You might want to read
my post on The
Alternate Bullish Pattern-How to Identify it on The Chart

AudUsd:5Minute Bearish
Bat Pattern:

In this example trade set-up below, the AudUsd possessed a distinct
W-type structure that possessed a 50% mid-point(B) and the 88.6% retracement of
XA leg. The alignment established the structure as an Ideal Bat pattern.
The structure took well over 3 hours to develop on the 5min. chart.
The 113% extension marked the critical low of the bearish market. The
convergence of the 88.6% XA leg and the 161.8% BC projection pinpointed the
resistance level. We can see how price declined after testing the potential
reversal zone.
The Bullish Bat Pattern:
This pattern as
illustrated in the image below is more like an M-type formation that makes use
of the 88% XA leg retracement of the Fibonacci tool, as the defining
support level in the Potential Reversal Zone{PRZ}.And the BC projection use an
extreme harmonic ratio that is at least a 161.8% extension.
In the above image the 88.6% retracement is the minimum support
level to help us define the completion of the Bat Pattern, while the meeting of
the 88.6% retracement of   XA leg and the extreme BC projections of
161.8% highlights the Potential Reversal Zone{PRZ}.
NzdUsd:15Minute Bullish Bat Pattern:
In this example trade set-up below, the EurJpy possessed a distinct
W-type structure that possessed a 50% mid-point(B) and the 88.6% retracement of
XA leg. The alignment established the structure as an Ideal Bat pattern.
 
The structure took well over 20 hours to develop on the 15min.
chart. The 88.6% extension marked the critical low of the bullish market. The convergence
of the 88.6% XA leg and the 161.8% BC projection pinpointed the support level. Price
did broke the 88.6% level and tested the 113% level before reversing Wish still
makes it a valid set-up.
The patterns identification continues on my next post..Use the
comment box below to express yourself!