Short opportunity on GBP\USD Bearish BAT formation

OANDA:GBPUSD   British Pound / U.S. Dollar

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


I just shorted.
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
You should put your entry around 1.35864 that would really increase your R:R. I agree where your target/setup overall.
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.
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