GBPUSD 4h Long Term Support and Bear Bat with Long Term Trend
Reasons to enter Trade:
Bear Bat Pattern
Long term Support (purple line dating back to April 13, 2015)
Exhaustion Candle on H4 (previous green candle with long wick on top)
RSI Over-bought
Caution:
Since this pair is in uptrend recently it may continue this trend so I will not risk a lot on this trade and also because if it turns down it go down a lot so that will make in pips easily.
Let us see what happens, Good luck!
Bear Bat Pattern
Long term Support (purple line dating back to April 13, 2015)
Exhaustion Candle on H4 (previous green candle with long wick on top)
RSI Over-bought
Caution:
Since this pair is in uptrend recently it may continue this trend so I will not risk a lot on this trade and also because if it turns down it go down a lot so that will make in pips easily.
Let us see what happens, Good luck!
Comment:
Stopped out -71 pips