GBPUSD H4 - Double Bat in game

FX:GBPUSD   British Pound / U.S. Dollar
383 7 5
More risky than usually - FOMC coming soon will bring more volatility ....
My target is usually bat's B point - actually I definded two targets
  • close to .618 of XA
  • close to .5 XA
I agree and am short this as well
The two things I don't like about it are the 6 hesitant candles at point x and the fact that the FOMC meeting is tonight, but orders are in so see what happens...

I am bearish the dollar so not so sure this level will hold - but will let it pan out
+1 Reply
dionvuletich dionvuletich
Stopped out, but just went short again on this based on another longer term bat... trade what you see...! not what you think!!
leszekstanislaw dionvuletich
I can see that! Let us try again....!
dionvuletich leszekstanislaw
Sorry Les, was referring to myself - to trade what i see, not what I think... (note to self... lol)

Part of me is cringing trading before FOMC, I have another setup on EURJPY but it has only a 40pip stop loss so might hold off, I have other pending orders waiting so might leave it tonight - no eurjpy bat short for me
So interesting ...!!
Iam Already short the Pound form Bat Battern (D) Complation Piont For 0.382 of (CD) Leg ....Let's watch and see .
Thanks for your Analysis ....!!
Hah, I did not think that .382 of CD may be a target, as well... Will check/test (am using ForexTester2 :)
FX-Error leszekstanislaw
Some trader Using 0.382 from (A) to (D) Piont as a target
and Some Conservative Traders Like Me using Just 0.382 of CD Leg and that's enough for me
Thanks again...!
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