GBPUSD Bat Pattern, Potential BAMM 4h - Harmonic Pattern
GBPUSD is in a large uptrend since the beginning of 2017, and those are shown by the diagonal Support and Resistance lines in yellow. We also have a S/R around the ~1.309 point (which works great with D Point).
As you can see, we just broke out of a cup and handle that created the a valid bat pattern with the measurements
A = .382 - .5
B = .382 - .886
C = 1.618 -2.618
X to D = .886
I'm looking to short (BAMM) the pattern from B to D and then BUY the reversal at D point. This is all depending on our candlesticks, and IF it breaks the long Support trend on the bottom. I'm hoping it can go through the Support, but this support has built up all year.
Note: always draw it on your own chart to get exact measurements! Make sure you have confirmation candlestick patterns CLOSED before entering - it may shoot through the D reversal zone!
You're welcome to repost this, just mention @corganmusic! :)
For those looking to learn to trade, message me! Good luck out there!
As you can see, we just broke out of a cup and handle that created the a valid bat pattern with the measurements
A = .382 - .5
B = .382 - .886
C = 1.618 -2.618
X to D = .886
I'm looking to short (BAMM) the pattern from B to D and then BUY the reversal at D point. This is all depending on our candlesticks, and IF it breaks the long Support trend on the bottom. I'm hoping it can go through the Support, but this support has built up all year.
Note: always draw it on your own chart to get exact measurements! Make sure you have confirmation candlestick patterns CLOSED before entering - it may shoot through the D reversal zone!
You're welcome to repost this, just mention @corganmusic! :)
For those looking to learn to trade, message me! Good luck out there!