GBPUSD 4h Bearish Bat Pattern
A potential short opportunity at the completion of a bearish bat which is the 0.886 retracement of the XA leg
Stops need to go above X. There is a major structure level above X looking left. Pay attention to that level when placing stops. If the risk/reward doesn't meet your rules, simply wait for an entry reason on the lower timeframe
(a double top for example).
TG1 is at the 0.382 retracement from A to D. TG2 is at the 0.618 retracement from A to D
Stops need to go above X. There is a major structure level above X looking left. Pay attention to that level when placing stops. If the risk/reward doesn't meet your rules, simply wait for an entry reason on the lower timeframe
(a double top for example).
TG1 is at the 0.382 retracement from A to D. TG2 is at the 0.618 retracement from A to D
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.