A bearish bat pattern might be completing very soon, hopefully the next candle.
Stop loss is about 30 to 40 pips, depending on entry price within the yellow zone.
Take profit will be at 38.2% Fib retracement of AD, about 60 pips.
Risk to reward ratio for this bat pattern is about 1:2.
Stop loss is about 30 to 40 pips, depending on entry price within the yellow zone.
Take profit will be at 38.2% Fib retracement of AD, about 60 pips.
Risk to reward ratio for this bat pattern is about 1:2.
Comment:
To add on, price is about to hit the top of the ED channel, higher probability of rebound.
Order cancelled:
Price went below reversal zone, no trade.