LewisGlasgow

GBP/CHF - Bearish Bat

Short
FX:GBPCHF   British Pound / Swiss Franc
Hello traders, here we have GBP/CHF with a bearish bat pattern on the 4h chart.

Excellent opportunity with over 1:4 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

The D point formed on a major level of resistance, I'm expecting price to sell-off very shortly.

Taking a look at the bigger picture (chart is shown below) this trade is a no-brainer for me.


Everyone in my Telegram channel has been alerted on this position.

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Comments

stop hit!
+1 Reply
LewisGlasgow Walentine
@Walentine, GBP news, ruined the setup.
Reply
Any idea for this pair sir?
Reply
@Chard786, price seems to be stalling at the current level, no ideas as of yet but we should see a short-term decline.
Reply
this one looks good, uk gonna bankrupt !
Reply
@Calamity, thank you!
Reply
Hello! Can you find me your 4 or 5 setup with targets achieved? I saw your ideas, but I do not find those in profit hit! Thanks
Reply
LewisGlasgow Walentine
@Walentine, I just provide the ideas, you guys are in charge of managing positions.

It's your choice whether you scale in and out or hold until it hits TP, if you do you'll need to ride it through the waves :)

Remember I'm a swing trader.









Reply
Hey mate Im in this trade as well, But I have my target a lot higher.. Why are you putting it so low? Can you elaborate on that a little please?
Reply
LewisGlasgow BNBInvestments
@BNBInvestments, hey man, I'm not using the standard 0.618 take profit level... I'm basing this trade off the daily timeframe.
Reply
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