Hello traders! We are monitoring the development of a second Bat pattern developing here on the Euro Pound. We are just below a resistance area and we might see a pullback after we get our D point to complete this pattern. It's a minor downtrend so a setup like this would give us another short opportunity that may create a right shoulder as well. This is an idea and so we would wait to see confirmation before placing these orders. We are also looking at an ABCD pattern which I won't exploit in this publication. We will be monitoring price action at the potential reversal zone (PRZ).
Traders should not predict the market but react from it. Trade smart, don't gamble!
Traders should not predict the market but react from it. Trade smart, don't gamble!