Trade Structure Down to Bullish Bat Pattern Completion

Note: I know some of you may say that this is not a Bat Pattern and it is really a Gartley Pattern. After some time backtesting, I just call anything with a XA retracement between 0.382 up to 0.7 as a Bat Pattern. Just the way I define it. I know that Akil Stokes & Jason Stapleton at Trade Empowered have augmented the pattern to have a 1.272 Fib BC extension (do correct me if I am wrong on that).

Identify:

• Price Action has bounced off a trend line 3 times and looks like it may for the 4th time.
  
• The current price action has reached the trend line, which matches a 0.786 retracement.
  
• A Bullish Harmonic Pattern is also in the stage of forming with a completion around 1.515, which matches a structural zone shown in red.
  
• Harmonic Pattern completion is in agreement with a Fib Cluster (1.414 BC extension, 1.272 AB extension, 1.13 (1.52 - A point) extension).
  

Predict:

• Price Action may bounce off the trend line and continue down to Bat Pattern Completion
  
• Upon completion of the Harmonic Pattern somewhere within the reversal zone, price action may then continue up to retest the Blue highlighted structural zone (which matches a 0.5 CD retracement).
  

Hope for the best.

Comment:

so far so good. Price action is coming closer to our kill zone... special thanks to the BoE news event that caused price action to tank.