lbrincat

Bullish Bat GBPUSD 4 Hour Chart

Long
FX:GBPUSD   British Pound / U.S. Dollar
We have a possible Bullish bat pattern forming on the 4 hr chart for the GBPUSD .

Price closed on Friday in an area of support where a lot of buyers are pushing the pair upwards

Looking at the Daily chart for this pair one can see 2 indecision candles formed in the last 2 trading days.

I will look at it in the morning to decide whether to go long at a breakout of the current support level and place my stops below it or to wait for the Bat Harmonic pattern to complete and enter a trade at the PRZ if there are signs of a reversal at that point.


Trade active: Entered with 2 trades at the breakout of the support going long
Comment: Got out from this trade and took some profit as it looks like sellers got control of the market again.