A potential bat pattern might be forming on the daily chart
RSI on it's way to oversold level
R:R at 1.15 (TP1) and 1.9 (TP2)
I have placed SL at 0.834, much lower than the usual 5-20 pips below X leg
0.834 is a strong daily support level
As the SL is much bigger at about 105 pips, please adjust lot size to fit your risk appetite. NOTE :
EU summit is on 29 April to discuss Brexit on 29 April, 2 weeks from now
Volatility is expected
Comment
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Pattern has become invalid, price has dropped and hit SL in a day, no trade for this bat pattern. However, I am looking at another possible butterfly pattern that is emerging on daily chart.