LewisGlasgow

EUR/GBP - Bullish Bat

Long
OANDA:EURGBP   Euro / British Pound
Hello traders, here we have EUR/GBP with a bearish bat pattern on the 4h chart.

Excellent opportunity with almost 1:3 risk to reward.

The measurements for a valid bat pattern are detailed below.
B: 0.382 - 0.50
C: 0.382 - 0.886
D: 1.618 - 2.618
Final X to D: 0.886

As you can see from the chart below price is trading within a horizontal channel.


I'm expecting a reversal just above the main support level .

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Comment: We're now approaching the potential reversal zone and this is what I see happening.

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Comments

Is the BAMM trigger active and tradable for this one? What do you think mate ^
+1 Reply
LewisGlasgow amilajayawi
@amilajayawi, it was valid but I missed the trigger on this one, going to wait for the full pattern to develop before entering.
Reply
amilajayawi LewisGlasgow
@LewisGlasgow, Entering mid stream would be a bad idea.. :D I thought so too. Thanks mate
Reply
LewisGlasgow amilajayawi
@amilajayawi, end up getting caught in a trap ;) speak to you soon mate.
Reply
amilajayawi LewisGlasgow
@LewisGlasgow, see ya ! ^
Reply
take profit?
Reply
@aaqei, the big green box on the chart, 0.86550.
Reply
@aaqei, think to loss mate.... this in not good strategy
Reply
hey man do u have interest to discuss the position management on pyramid strategy? i just found the traditional pyramid strat will get knocked out most of time due to unexpected pull back and safety management of positions. im not sure if my strat is new .
Reply
@Calamity, the pyramid strategy only works in certain types of markets, getting in and out of a trade sounds a lot easier than it actually is.
Reply
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