GBPUSD has been on a strong downtrend and near completion of a bullish bat. There is also an RSI bullish divergence. Upon pattern completion and confirmation of the bullish bias, I will go long. Stop loss is just below the X point. The take profit target is set at the 38.2 Fibonacci retracement level of the AD leg. Tentative details are as follows:
Trade Setup: Possible Bullish Bat
Price Entry 1.28029
SL 1.27503 | SL pips 52.6
TP1 1.29441 | TP1 pips 141.2
RRR1 2.68
Trade Setup: Possible Bullish Bat
Price Entry 1.28029
SL 1.27503 | SL pips 52.6
TP1 1.29441 | TP1 pips 141.2
RRR1 2.68
Order dibatalkan:
Price hit TP1 prior to pattern completion. (November 16)