2018Oct25 GBPCHF H4 Bullish Bat

GBPCHF has recently been on strong downtrend and a bullish bat has formed. Upon confirmation of the bullish bias, I will go long preferably above the H4 close of 1.28504. Stop loss is just below the X point. The take profit target is set at the 38.2 Fibonacci retracement level of the leg AD which takes into account the trendline resistances. Trade details are as follows:

Trade Setup: Bullish Bat
Price Entry 1.28504
SL 1.28168 | SL pips 33.6
TP1 1.29411 | TP1 pips 90.7
RRR1 2.70