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11021992
Jan 6, 2017 12:46 PM

GBPUSD bearish bat pattern potential. Short

British Pound/U.S. DollarFXCM

Description

Hi traders,

On the GBPUSD I'm looking to enter short at the completion of this potential bearish bat pattern.
Entry: 1.33310
Stop: 1.35765
Target 1: 1.28885 = R:RR 1.80
Target 2: 1.25253 = R:RR 3.28

Good luck guys!
Comments
ShahidKhan
I THINK GBPUSD GOING MORE DOWN TO C LEG AT 786 R 886 RETRACEMENT, NOW GBPUSD C LEG IS 38 PERCENT.
11021992
@ShahidKhan, Thanks for sharing! Let's see what happens.
calhalla
Do you really think GBP could go to 1.33 by the end of Feb? I cannot see it going above 1.25 before March with all the Brexit concerns and so on unless the USD has some serious issues. This is one chart I will keep an eye on though. Thank you for posting.
11021992
@calhalla, Maybe Trump will do something stupid :P. I don't know if price will reach that high, but IF it does, I'll be ready for it.
fonnie
hi is it gona rise from the C TO BULL TO D
11021992
@fonnie, Hi. I don't know. What I do know, is that IF price goes from C to D, I will enter short from D based on this harmonic bat pattern.
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