What's up everyone, here we have EUR/GBP with a bearish bat pattern on the 1h chart .
Excellent opportunity with over 1:4 risk to reward.
The measurements for a valid bat pattern are detailed below.
B: 0.382 - 0.50
C: 0.382 - 0.886
D: 1.618 - 2.618
Final X to D: 0.886
The B point formed at a key level in the market, therefore I'm using this as my mid-way target. I will more than likely close my position here and re-enter with 50% of my original position size.
If you take into consideration the 4h chart below this could be an excellent shorting opportunity.
I'm expecting a false breakout followed by a huge move down, all Euro pairs are indicating a Euro weakness right now.
I hope you all have a great week!
Excellent opportunity with over 1:4 risk to reward.
The measurements for a valid bat pattern are detailed below.
B: 0.382 - 0.50
C: 0.382 - 0.886
D: 1.618 - 2.618
Final X to D: 0.886
The B point formed at a key level in the market, therefore I'm using this as my mid-way target. I will more than likely close my position here and re-enter with 50% of my original position size.
If you take into consideration the 4h chart below this could be an excellent shorting opportunity.
I'm expecting a false breakout followed by a huge move down, all Euro pairs are indicating a Euro weakness right now.
I hope you all have a great week!
📈 Master the Art and Science of Trading: sixfigurecapital.com
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.
📈 Master the Art and Science of Trading: sixfigurecapital.com
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.