dule85
Short

GBPUSD 15min Bearish Bat Pattern

FX:GBPUSD   BRITISH POUND / U.S. DOLLAR
A potential short opportunity at the completion of a bearish bat .

For a valid bat pattern I need:
1) 0.5 retracement of the XA leg but price is not allowed to touch the 0.618 retracement
2) At least a 0.382 retracement of the AB leg but price is not allowed to go beyond point A
3) Completion of the bat pattern at the 0.886 retracement of XA leg

Short entry at the 0.886 retracement of XA leg. Stops need to go above X. TG1 is at the 0.382 retracement from point A to D. TG2 is at the 0.618 retracement from A to D.
Price action broke below A point, so the pattern is invalid
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