Identification: Price is in an uptrend. A bullish potential bat advanced formation is set Prediction: The uptrend will continue higher at least to test the recent highs. Decision: Wait untill price enters the reversal zone and install a HHHC candle. If the candle-close is below 50% then the RR-ratio is positive. If no HHHC is formed before price completes the bat then enter agressively at 88.6XA. Stop is place 1ATR below X. Target is the retest of the last NSH.
Hi, I was looking at this pattern also, but I was waiting at least for 78.6 or 88.6, may I ask how is your reversal zone calculated? Why is it so high? Just curious, as I'm not this aggressive. Thanks, keep up the good content
Alexander_Nikitin
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@corleone7, I stretch the fibs from target to stop and enable 50% level. If I buy below this level I will always have a positive risk to reward. The rectangle start from 50% level and ends at the most recent Higher Low. The entry is a HHHC within this rectangle.
corleone7
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@Alexander_Nikitin, Appreciate the explanation. Interesting idea. Glad it worked out! Caught the similar move on Euro. Kind regards and wishes for a fruitful new year!
Have you already backtest bat pattern stratege with audusd in 15min?
Alexander_Nikitin
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@395510528, Why do you say already? I have created my pattern search software more than two years ago. It finds thousands of setups on history within 1 second. Do you think two years is not enough to test EVERY major pair on EVERY timeframe with my software??
Dyrus_Liu
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@Alexander_Nikitin, Sure,it's just i always see your posted failed,,, so ask this question.anyway your software it's pretty good,truly!
Alexander_Nikitin
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@395510528, Well. Simply bad luck in posting. Not in trading. Hehe. When choosing which of my trading setups to post I pick them up randomly. Of course it may stuck in periods of losses or winners. Go back to July-August ideas. They are almost all winners:)
anony2222
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@395510528, losing is a part of the system. you win some you lose some. as long as you make money, who cares? you cant expect to be right every time.