2018Oct25 GBPCHF H4 Bullish Bat
GBPCHF has recently been on strong downtrend and a bullish bat has formed. Upon confirmation of the bullish bias, I will go long preferably above the H4 close of 1.28504. Stop loss is just below the X point. The take profit target is set at the 38.2 Fibonacci retracement level of the leg AD which takes into account the trendline resistances. Trade details are as follows:
Trade Setup: Bullish Bat
Price Entry 1.28504
SL 1.28168 | SL pips 33.6
TP1 1.29411 | TP1 pips 90.7
RRR1 2.70
Trade Setup: Bullish Bat
Price Entry 1.28504
SL 1.28168 | SL pips 33.6
TP1 1.29411 | TP1 pips 90.7
RRR1 2.70
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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.