Bullish Bat pattern in GBP/USD

FX:GBPUSD   British Pound / U.S. Dollar
Following on from my previous post in Cable of trying to identify a BAT pattern whilst we were around 1.5670 the price is now near completion of this potential BAT pattern . Taking a short down to this level would have been quite successful, even identifying a potential BAT pattern early on before the classic buy at completion.

Now the price may rise from around 1.5200 which completes the BAT pattern and is also a potential reversal point from the trendline I have drawn in. This trendline is a speculative one drawn in equal distance away from the existing channel. This seems to work more often than not.

Could target the trendline at the base of the existing channel around 1.5700 with a stop around 1.5070 however if this trade idea works then a smaller stop could be used.

Again, the market will do what it does, this is only an idea.

Please Like if you would Like more posts Like this!
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
HE עברית
Home Stock Screener Forex Screener Crypto Screener 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