What is the Alternate Bat harmonic pattern?
The alternate bat harmonic pattern is a variation of the Gartley pattern. Scott Carney developed it in 2003. It is popular for incorporating the 1.13XA retracement as the defining element in the Potential Reversal Zone (PRZ). The alternate bat harmonic pattern is one of the most precise trading patterns that works exceptionally great in the relative strength index (RSI) BAMM set up.
Key takeaways:
- The Alternate Bat pattern is popular for incorporating the 1.13XA retracement.
- Firstly, an important factor is the B point retracement that must be 0.382 retracements or it must be less of the XA leg.
- Furthermore, it only utilizes a 2 or more BC projections.
- The AB = CD pattern within the alternate bat pattern always extends requiring a 1.618 AB = CD calculations.
How to identify the Alternate Bat harmonic pattern?
The alternate bat is a unique trading pattern that involves certain precise measurements. Those measures are crucial in order to identify the alternate bat. A pattern must meet the following conditions to be an alternate bat pattern:
- The first important factor is the B point retracement that must be 0.382 retracements or it must be less of the XA leg.
- The alternate bat only utilizes 2.0 BC projections or greater than that.
- The AB = CD pattern within the alternate bat pattern always extends requiring a 1.618 AB = CD calculations.
- Generally, the best structures use 50% retracement at the midpoint.
Resources
https://www.forex.academy/the-alternate-bat-pattern/
https://patternswizard.com/alternate-bat-harmonic-pattern/
https://harmonictrader.com/harmonic-patterns/alternate-bat-pattern/
https://algorush.com/trading-academy/advanced-lessons/harmonic-patterns/common-harmonic-patterns/alternate-bat-pattern/
