Bat Chart Pattern: How To Identify It and Trade it Like a PRO [Forex Chart Patterns]

The harmonic bat pattern is a 5-point chart formation with specific Fibonacci measurements. It was discovered by Scott Carney in 2001 and is one of the four most common and popular harmonic chart patterns in technical analysis.

At basic, it has a similar formation as the Gartley harmonic pattern, although one key difference between the two harmonic price patterns is the Fibonacci ratios.

In this video, we’ll teach you everything you need to know about the harmonic bat chart pattern. Here’s a quick overview of what you’ll learn:

First, we’ll go through the basics of the bat pattern, so you’ll understand what it’s all about. We'll briefly discuss the pattern’s structure and its implication. Then, we will show you how to identify the bat pattern. In this section, we’ll focus on the bat pattern’s unique Fibonacci ratios and how to use these Fib levels to find the trend reversal area.

Next, we’ll show you a live example of the harmonic bat pattern on a price chart. In this part, we’ll teach you how to use a drawing tool to draw the bat pattern on a trading chart. To trade the bat pattern effectively, we’ll also show you how to confirm the reversal with the RSI indicator. Ultimately, after watching this section, you’ll know exactly where to enter a trade, set a stop loss and take profit order.

At last, we briefly review the pros and cons of the harmonic bat pattern and discuss the key points to consider when identifying and trading it.

Let’s get started!

Chapters:

0:00 - Intro
0:47 - How to Identify the Bat Chart Pattern
2:41 - How to Trade the Bat Chart Pattern
4:02 - Pros and Cons
4:57 - Key Takeaways

➡️ For the full bat pattern guide, visit this page: https://howtotrade.com/chart-patterns...

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The information provided in this video is intended for educational purposes only and is not to be construed as investment advice. Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience and risk appetite. There is a possibility you could sustain losses of some, or all of your initial investment and therefore seek independent financial advice if you have any doubts.

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