GBP.USD - Bullish Bat Setup - 1.2371
On the GBP.USD 1hr chart we have a potential long opportunity's at the D leg completion of bullish Bat setup.
The price reversal zone on this pair is between 1.2371 & 1.2346
The PRZ zone is only a guideline of where we will be paying attention for trade setups and opportunity's.
Potential targets for the Bat setup placed at the .382% and .618% retracement of the A to D move.
There is also an opportunity to look for extended targets at 1.2550
Stop loss would be placed below X leg structure support .
Target 1 - 1.2453
Target 2 - 1.2502
The price reversal zone on this pair is between 1.2371 & 1.2346
The PRZ zone is only a guideline of where we will be paying attention for trade setups and opportunity's.
Potential targets for the Bat setup placed at the .382% and .618% retracement of the A to D move.
There is also an opportunity to look for extended targets at 1.2550
Stop loss would be placed below X leg structure support .
Target 1 - 1.2453
Target 2 - 1.2502
Note
I have a number of DM's asking how I look for Bat setups and my rules to identify.Full details below.
Note
A break above 1.2475 will confirm the breakout.Note
Price has now broken above the 1.2475 minor resistance level.
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.
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.