BULLISH BAT
"My tests show that the pattern breaks out upward 51% of the time. What does that mean? A close above the top of the pattern means an upward breakout. So price has to rise up from the low at D to close above A. Price may dip after point D, and that happens 24% of the time. The average decline below D is 7% (median: 6%), so be careful when relying on a bullish reversal at D."
#Confirmation ~ 7790$
Overall performance rank for up/down breakouts (1 is best): 22 out of 56/8 out of 53
Break even failure rate: 17%/17%
Average rise/decline: 46%/16%
Throwback/pullback rate: 69%/58%
Percentage meeting price target*: 61%/38%
"My tests show that the pattern breaks out upward 51% of the time. What does that mean? A close above the top of the pattern means an upward breakout. So price has to rise up from the low at D to close above A. Price may dip after point D, and that happens 24% of the time. The average decline below D is 7% (median: 6%), so be careful when relying on a bullish reversal at D."
#Confirmation ~ 7790$
Overall performance rank for up/down breakouts (1 is best): 22 out of 56/8 out of 53
Break even failure rate: 17%/17%
Average rise/decline: 46%/16%
Throwback/pullback rate: 69%/58%
Percentage meeting price target*: 61%/38%