Bat Harmonic Pattern is one of the most powerful pattern in the family of Harmonic patterns, as this pattern have the highest successful PRZ (potential Reversal Zone).
Lets analyze why this pattern are the most successful pattern in the Harmonic school and drop down the reasons below;
1- 70% of the trading time the market moves in side ways which makes waves look like the Harmonic patterns.
2- The Bat PRZ area most of the time shares the same area of Supply & Demand.
3- Bat PRZ also sometimes share the start of wav 4 or the end of wav 3 areas in Elliot wave theory.
4- Bat PRZ shares also the area of the end of the three waves correction or the Elliot cycle.