Price Patterns: "Alternate Bat"
The Alternate Bat Pattern™, is a precise harmonic pattern™ discovered by Scott Carney in 2003.
The pattern incorporates the 1.13XA retracement, as the defining element in the Potential Reversal Zone (PRZ).
The B point retracement must be a 0.382 retracement or less of the XA leg. The Alternate Bat pattern™ utilizes a minimum 2.0BC projection. In addition, the AB=CD pattern™ within the Alternate Bat is always extended and usually requires a 1.618 AB=CD calculation.
The Alternate Bat pattern™ is an incredibly accurate pattern that works exceptionally well in the RSI BAMM divergence setup.