TomP
Long

Potential BAT pattern completion in GBP/USD

FX:GBPUSD   BRITISH POUND / U.S. DOLLAR
Following on from my previous post in GBP/USD             of trying to identify a potential BAT pattern early on in the move (around 1.57) taking a short there would have worked quite well.

Now the price is approaching the completion point around 1.52 where it could reverse and resume the up trend. I have also drawn in a speculative trendline that is equal in width to the existing channel. This often acts as resistance although the price has not bounced of this trendline before.

Target could be 1.57 around the base of the existing price channel with a close stop below the speculative trendline .

Remember markets do what they want to do, this is just an idea.

Please like this if you want more posts like this.
United States
United Kingdom
India
Deutschland
France
España
Italia
Polska
Türkiye
Россия
Brasil
Indonesia
Malaysia
ประเทศไทย
Việt Nam
日本
한국
简体
繁體
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out