Bullish Bat Pattern within Trend with potential double bottom
For further confirmation wait for close of 4 h candle and a potential double bottom. Stops below X. Targets are 38,2 % and 61,8 % retracements as shown on the chart.
TRADE YOUR PLAN!
Peace. Felix
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Just a quick Bat pattern setup on GBPUSD.
Came right back into previous structure with RSI oversold. Now seeing nice divergence and a triple bottom.
Shooting for conventional targets at 38,2 and 61,8 retracement of C-D.
Stops have to go below X.
As always, follow your plan!
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AUDUSD is still in a downtrend. Therefore we're looking to take shorting opportunities to hop on the trend.
This gartley pattern gives us pattern traders a valid short.
Depending on your personal rules you can either trade this pattern with conventional targets (38,2 & 61,8% from A-D) or as a TCT as shown on the chart.
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Just wanted to give an idea for possible trend continuation trades, All rules are on the chart.
All the best. Felix
Website: www.ogtpartners.com
Twitter: goo.gl
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* First one is a Gartley Pattern, not a BAT*
Advanced patterns work best when the market is in consolidation. A great example is the German Dax where we recently saw two advanced patterns both hitting two targets. Now there is a third possible chance to get involved in form of a bullish cypher pattern.
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A short trade idea on GBPUSD. Coming into previous resistance zone while forming a potential bearish bat pattern completing at the 0.886 retracement. This offers a nice short opportunity for those pattern traders out there.
Targets at 38,2 and 61,8 % retracement.
Stops above X.
Website: www.ogtpartners.com
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