- The pattern incorporates the 0.886XA retracement. This level is at 50.84$
- B point less than 0.618, preferably a 0.50 or 0.382 XA. In the pattern above B point is 0.529XA
- The bat use a minimum 1.618 B-C projection. This is projected at 49.55$
- The pattern™ within the Bat pattern™ is extended and usually requires a 1.27 calculation. This level is projected at 50.31$
PRZ Zone and
A weekly is inside the range defined by the @ 1.27 and B-C @ 1.618 inside the PRZ zone.
Defining element of PRZ 88.6XA is inside a strong printed during active trading hours (London). This supply range from 50.58 up to 51.21 (May 2017).
PRZ Zone levels : 49.55$ to 50.84$
Supply and Demand levels (on chart)
Dark blue = Fresh demand
Light blue = Two touches demand
Dark Red = Fresh supply
Light Red = Two touches supply
Short term supply
In the short term there is a (re-tested once and therefore not fresh) 47.75$ - 48.37$. Past that level there are other re-tested supply zones before the PRZ, but these are supply zones printed during not active trading hours and their formation doesn't suggest a strong zone.
New printed supply zone : 47.09$
Added new levels on chart
Price failing to break 50.30 (most recent POC)