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Price @ a key Supply Level (Resistance), which also coincides with the PRZ (Price Reversal Zone) of the bearish BAT. Note:
Point D has exceeded 88.6XA, so this is not an ideal BAT pattern. However still less than 100XA, which would make it a double top.
CD has also exceeded 1.272AB, the latter projection being ideal for a regular BAT pattern. Entry Suggestions
See how price reacts in the PRZ, since it could move higher. Enter on a break below 88.6XA (1.5847) or a break of the CD Trendline. SL
Above D or above high of Supply Level. Target Suggestions
38.2AD, 61.8AD, 127.2AD, Pt C, 127.2 AD, 161.8AD
A Bat structure is one of the Harmonic Price Patterns that develop in markets. Essentially a harmonic pattern is an impulse wave followed by 2 corrective waves. One of the earliest such patterns was the Gartley, which was identified by HM Gartley in the 1930s. A lot of work has been done on these patterns over the last several decades by independent sources. One of the refinements has been the assignment of specific Fibonacci ratios to define the various legs of the formation. These patterns are very specific and often accurate.
In the case of the regular BAT pattern
– Point B should between 38.2% – 50.0% Fib retracement of XA. Ideally 50%.
– Point C should be between 38.2 % – 88.6 % of AB
– CD is governed by a confluence of conditions …
161.8% – 261.8% Fib projection of BC. A minimum of 161.8%BC is required.
127.2 Fib Proj AB
After D is formed price generally reverses.
The patterns come in a Bearish as well as Bullish formation.
There are a lot of other details on how to identify these as well as trade them.
Price did not move in the expected direction. One should have been stopped out if the trade was taken at the identified level. I still see multiple supply zones stacked on top of the current price, so wouldn’t be surprised if the price did retreat.
One618 Trading Blog 
can you explan bat bearish?
A Bat structure is one of the Harmonic Price Patterns that develop in markets. Essentially a harmonic pattern is an impulse wave followed by 2 corrective waves. One of the earliest such patterns was the Gartley, which was identified by HM Gartley in the 1930s. A lot of work has been done on these patterns over the last several decades by independent sources. One of the refinements has been the assignment of specific Fibonacci ratios to define the various legs of the formation. These patterns are very specific and often accurate.
In the case of the regular BAT pattern
– Point B should between 38.2% – 50.0% Fib retracement of XA. Ideally 50%.
– Point C should be between 38.2 % – 88.6 % of AB
– CD is governed by a confluence of conditions …
161.8% – 261.8% Fib projection of BC. A minimum of 161.8%BC is required.
127.2 Fib Proj AB
After D is formed price generally reverses.
The patterns come in a Bearish as well as Bullish formation.
There are a lot of other details on how to identify these as well as trade them.
For more information, refer to the following
Harmonic Trader Site
Fibonacci Ratios With Pattern Recognition by Larry Pesavento
Harmonic Trading, Volume One by Scott Carney
Harmonic Trading, Volume Two by Scott Carney
The Gartley Trading Method by Ross Beck
Geometry of Markets by Bryce Gilmore
Price did not move in the expected direction. One should have been stopped out if the trade was taken at the identified level. I still see multiple supply zones stacked on top of the current price, so wouldn’t be surprised if the price did retreat.