False Bat

In this episode of Bat week we have a Bullish Bat pattern on the NZD/USD. This bat formation seems to be reversing bang on the D point, however, this trade is incorrect and has been rendered a FALSE pattern. Reason? the CD extension of the BC wave calculates to 283.20% This does not fall in line with out ratios, but is often overlooked when traders are too busy counting B, C and D points. Stay Aware! This trade may come in as it has actually hit major weekly support. The .886 retracement just happens to fall on the weekly support. Look bellow for other bat patterns- looks like 2017 is in fact THE YEAR OF THE BAT!

Bat ratios

B: 0.382-0.5
C: 0.382-0.886
D: 1.618-2.618
XD: 0.886