2018Nov15 GBPCHF H4 Possible Bullish Bat
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 cancelled
Price hit TP1 prior to pattern completion. (November 16)
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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.