2018Jun16 GBPAUD H4 Possible Bearish Bat

There is a possible bearish bat for GBPAUD. Upon D completion at 1.78686 (88.6 of XA) and confirmation of the bearish bias, I will go short. Stop loss is just above point X. The take profit targets are set at the 38.2 and 61.8 Fibonacci retracement levels of leg AD and point A. Tentative details are as follows:

Trade Setup: Possible Bearish Bat
Price Entry 1.78686
SL 1.79349 | SL pips 66.3
TP1 1.76865 | TP1 pips 182.1
TP2 1.75740 | TP2 pips 294.6
TP3 1.73919 | TP3 pips 476.7
RRR1 2.75 | RRR2 4.44 | RRR3 7.19

Order cancelled:

This setup is invalidated with the formation of a candlestick closing above 1.78686 (88.6 of XA). (June 18)