The “Bat pattern” incorporates the 0.886XA retracement, as the defining element in the Potential Reversal.
The B point retracement a 0.50 of the XA leg. The Bat utilizes a minimum 1.618BC projection, which is already done.
In addition, Bat pattern is extended to a 1.618 AB=CD calculation. It is an incredibly accurate pattern and requires a smaller stop loss than most patterns.
Negative Sign at Longer TF for NIFTY
The price is trading the upper band of the channel which is resistance but nifty can create penetration(excess2) because of excess1 at lower band.
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Simple TimeCycle and Parallel Channel, NIFTY
Reversal zone in SBIN
The following parameters are measured:
- “B” is less than 61.8%
- 2.61.8 BC projection @ 243
- 1.618 AB = CD at 237.5
- 1.27 AB = CD at 226
- 1.13XA retracement already done.
Login to know the exact level for reversal
Have you remember NIFTY BANK analysis? CLICK HERE to see
I had mentioned that it suppose to break the upper band of the channel, causing taking a table, and it has perfectly followed my analysis.
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AB=CD At 12798 For NIFTY
This defined the 12798 area as critical short-term resistance. It is important to note that the stock reversed after the AB=CD completion point will test. Although the BC projection was an important calculation within the PRZ of the pattern, the completion of the equivalent AB=CD structure was the defining limit. The chart of the price action in the PRZ shows the near-perfect reversal just the PRZ at 12798 nearby expecting…
I outlined that important level is at 12798 and Terminal Bar will decide for reversal confirmation.
I have mixed use Breakdown + Elliott Basic Rules…
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Elliot Wave(30min TF) for BANKNIFTY & Throw-Over?
On the 5th, I’m expecting Throw-Over for this parallel channeling. By utilizing the 2-wave and 4-wave to determine the wave 5th connected parallel channel but herein, I suppose to break the upper band of the channel causing taking a table of U.S. election by the Biden expecting.
In essence, after the completion of the 5th wave, we are going to correct A, B, C. For the correction, The “Control Price” can attract the price.
=> Why did the price make higher & higher technical reasons?
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