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.
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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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Broke structure to the downside and now expecting at least the test oft recent lows@ around 123.17.
Just a quick idea based on the structure of the market. Make sure it fits your personal trading plan.
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One of my favorite setups: Coming back into previous structure while forming a harmonic pattern. IN this case a bearish bat pattern.
Stops and Targets as shown. This is a swing trading idea. Follow your own trading plan!
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Found support at daily structure and broke above the double bottom, which signals that we are back in bullish trend.
Also got a nice cypher pattern on the hourly timeframe.
Trade your personal plan!
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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.
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