GBP.USD - Short Opportunity at 1.2541
Updated
On the GBP.USD 1hr chart we have a potential short opportunity at the D leg completion of bearish Bat setup.
The price reversal zone on this pair is between 1.2541 & 1.2556
The PRZ zone is only a guideline of where we will be paying attention for trade setups and opportunity's.
Potential targets for the Bat setup placed at the .382% and .618% retracement of the C to D move.
There is also an opportunity to look for extended targets at around 1.2440
Stop loss would be placed above X leg structure resistance.
Target 1 - 1.2494
Target 2 - 1.2465
The price reversal zone on this pair is between 1.2541 & 1.2556
The PRZ zone is only a guideline of where we will be paying attention for trade setups and opportunity's.
Potential targets for the Bat setup placed at the .382% and .618% retracement of the C to D move.
There is also an opportunity to look for extended targets at around 1.2440
Stop loss would be placed above X leg structure resistance.
Target 1 - 1.2494
Target 2 - 1.2465
Note
Note
4hr trendline that is currently holding resistance on the 1hr TFOrder cancelled
No pending order set as the pattern is now invalid.Note
New bearish pattern setup.
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