Potential bullish BAT advanced pattern
Look how the projection of BC leg at 1.618 meet the retracement of the XA leg at 0.886 ! This kind of alignment usually make the patterns stronger. Does that mean that the patterns already shows us the Brexit poll result? :)
A nice reward to risk potential of 2.28:1, but a safer SL would be below the previous low around 1.3825 for a RR of 1.5 :1.
However, to take this trade you better be solid, first a safe SL of 266 pips and the riskier SL of 176 pips you must be ready. Also, with this referendum floating over the UK, we know that the volatility will fly away and the liquidity may miss the meeting. Even though BoE took some precautions, this will result in a wider spread than usual and the MM brokers could take the opportunity to play the slippage game in their favours. I'm just guessing here, don't take my words for truth.
Good Luck!
A nice reward to risk potential of 2.28:1, but a safer SL would be below the previous low around 1.3825 for a RR of 1.5 :1.
However, to take this trade you better be solid, first a safe SL of 266 pips and the riskier SL of 176 pips you must be ready. Also, with this referendum floating over the UK, we know that the volatility will fly away and the liquidity may miss the meeting. Even though BoE took some precautions, this will result in a wider spread than usual and the MM brokers could take the opportunity to play the slippage game in their favours. I'm just guessing here, don't take my words for truth.
Good Luck!
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