marco_casario

GBPUSD Epic Gartley but pay attention to left structure

Short
FX:GBPUSD   British Pound / U.S. Dollar
The long-awaited Bat pattern on GBPUSD has been completed right now.
We're talking about a very deep pattern.

I'll be prudent to enter this trade and I'll wait until a Double Top will be formed.
Let me explain you why: if you look left you'll find a structure that you need to consider when setting the stop loss for the BAT. But with this stop loss the Risk/Reward ration is (less than) 1.
I don't like trading in this scenario.

So I'll be patient and my entry will be higher around the 1.5668

Doing that the risk/reward is about 1.3

Good luck with this trade !!

Ricevi gratuitamente gli studi sui Pattern Armonici e di Analisi Tecnica ogni settimana sui mercati finanziari. Iscriviti qui: goo.gl/JIhOHJ

Instagram: www.instagram.com/the10mintrader/
Facebook: www.facebook.com/The10MinTrader/
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.