FX_Guru
Short

Short opportunity on GBP\USD Bearish BAT formation

OANDA:GBPUSD   British Pound / U.S. Dollar
OANDA:GBPUSD

Possibly a good bearish bat has formed on this pair, if this is the case we can expect a strong rally. I have place my stop loss well above X, as you should bare in mind previous mid-term high around 1.36 area. I set my targets at 1.3320 and 1.3099
Comment: Unfortunately I have no clue how to post a picture and update idea here, but here what have I done.
I have added to my regular trading volume at 1.3585 and set stop loss at 1.3625, slightly adjusted bat pattern, got new ratios and as a consequence my targets also slightly changed. Now target one is at 1.3336 and target two at 1.3180
Trade active
Trade closed: stop reached

Comments

I just shorted.
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FX_Guru Jamal92
@Jamal92, Good! My stop hasn't been violated so far, I'am going to wait until current hourly candle closes and add to my regular lot
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You should put your entry around 1.35864 that would really increase your R:R. I agree where your target/setup overall.
Reply
FX_Guru Jamal92
@Jamal92, I see what you mean, that was also my initial idea, but the price in the last two hours started to spike, I decided to enter with the half of my usual amount but with a higher stops. When and if the movement down will be confirmed I will add to my usual trading amount.
+1 Reply
Jamal92 FX_Guru
@FX_Guru, I see your point mate.
Reply
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