"GBPCHF potential bat pattern with previous support confluence" by trader Highcrunch — published December 16, 2014

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Long

British Pound / Swiss Franc (FX:GBPCHF)

FX:GBPCHF British Pound / Swiss Franc

IF price hits 1.4985 area to complete the Bullish Bat pattern, this is a area to go long coupled with previous 3 support zone .

SNB :(

Price went to within a few pips of 88.6% XA to complete the bat pattern. Then it formed a nice pin and this price action is good evidence that it hit the reversal zone and for me to enter the long trade. Took off half unit off at 38.2% of AD for 65 pips profit and move stop loss to break even. Risk free ride to second target at 61.8% AD.

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