GBPUSD Bearish Bat
This opportunity could be great to jump on the bearish underlying trend.
Looking to short at the 0.886 D point of the X to A move; which also meets with the 1.618 extension of the A to B move.
RSI is also showing strong divergence.
Stops are going above previous structure, with targets set at the 0.618 retracement of the C to D move. The reason for choosing less conservative targets is due to the trade being in line with the underlying bearish trend.
Looking to short at the 0.886 D point of the X to A move; which also meets with the 1.618 extension of the A to B move.
RSI is also showing strong divergence.
Stops are going above previous structure, with targets set at the 0.618 retracement of the C to D move. The reason for choosing less conservative targets is due to the trade being in line with the underlying bearish trend.
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