GBP.USD - Bullish Bat Setup - 1.2371
Updated
On the GBP.USD 1hr chart we have a potential long opportunity's at the D leg completion of bullish Bat setup.
The price reversal zone on this pair is between 1.2371 & 1.2346
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 A to D move.
There is also an opportunity to look for extended targets at 1.2550
Stop loss would be placed below X leg structure support .
Target 1 - 1.2453
Target 2 - 1.2502
The price reversal zone on this pair is between 1.2371 & 1.2346
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 A to D move.
There is also an opportunity to look for extended targets at 1.2550
Stop loss would be placed below X leg structure support .
Target 1 - 1.2453
Target 2 - 1.2502
Note
I have a number of DM's asking how I look for Bat setups and my rules to identify.Full details below.
Note
A break above 1.2475 will confirm the breakout.Note
Price has now broken above the 1.2475 minor resistance level.
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