WIth GBP news coming out tomorrow lets see how this setup plays out.
Good RR 2:1 Nice structure Bat Pattern Completion Cup n Handle Possibility Looking for possible Retracement to structure before continuation of move up.
Trade closed manually
⋅
I had expected the news to help this move, but did not anticipate it would be over so quick.
Now that 50% of the move up has been retraced, it may consolidate a bit before resuming the overall bullish trend. And it is in this region until the 62% retracement of move up, we would look for setups to go long.
Comment
⋅
For the harmonica / advanced pattern traders. This is the BAT that i am looking at, The second targets would be the ideal entry point for long term longs (if PA reaches that level)
good one Neel , i like your SL , i m expecting 2.34-2.35 reversal , so i will join you in ur short somewhere in between those numbers
Neel_K
⋅
It may surely Pop up before the final move down, as the down move has not been confirmed (yet)
For safer entries once could wait for RSI trend line break/MACD cross over confirmation/ PA setup/ AO reversal n other confirmations. Right now its just a possibility.
Neel_K
⋅
Though the indicator confirmations may lag ! Best to use Price action and smaller Time frame setups.