2018Oct12 GBPUSD H4 Possible Bearish Bat
GBPUSD has recently been on an uptrend. A bearish bat is nearing its completion with bearish divergence. This gives us an opportunity for a countertrend trade for the pullback. Other GBP pairs are likewise are at or near their resistance levels. Upon D completion and confirmation of the bearish bias, I will go short. Stop loss is just above X point while the take profit target is at the 38.2 Fibonacci retracement level of the AD leg. Tentative details are as follows:
Trade Setup: Possible Bearish Bat
Price Entry 1.32556
SL 1.33036 | SL pips 48.0
TP1 1.31280 | TP1 pips 127.6
RRR1 2.66
Trade Setup: Possible Bearish Bat
Price Entry 1.32556
SL 1.33036 | SL pips 48.0
TP1 1.31280 | TP1 pips 127.6
RRR1 2.66
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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.
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.