Hi,
On GBPUSD Hourly chart we have a potential Short opportunity at the D leg completion of bearish BAT setup .
The D leg completion of BAT is @ 1.25890.
The PRZ zone is only a guideline of where we will be paying attention for trade setups and opportunity's.
Stop loss would be placed below X leg structure support .
Target 1 - 1.25055
Target 2 - 1.24562
When looking to take targets on the Bat Setup the first step is to use your Fibonacci retracement tool.
With your Fibonacci retracement tool draw from the A to D leg, you are looking for target 1 at the 38.20% and target 2 at the 61.80%.
To protect the profits you have accumulated at target 1 it is advised you move your stop loss to breakeven once the 38.20% target 1 has been attained, thus giving you a risk free trade to target 2.
Trade with Care,
Gulz
On GBPUSD Hourly chart we have a potential Short opportunity at the D leg completion of bearish BAT setup .
The D leg completion of BAT is @ 1.25890.
The PRZ zone is only a guideline of where we will be paying attention for trade setups and opportunity's.
Stop loss would be placed below X leg structure support .
Target 1 - 1.25055
Target 2 - 1.24562
When looking to take targets on the Bat Setup the first step is to use your Fibonacci retracement tool.
With your Fibonacci retracement tool draw from the A to D leg, you are looking for target 1 at the 38.20% and target 2 at the 61.80%.
To protect the profits you have accumulated at target 1 it is advised you move your stop loss to breakeven once the 38.20% target 1 has been attained, thus giving you a risk free trade to target 2.
Trade with Care,
Gulz
Comment:
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