akhostov
Long

Trade Structure Down to Bullish Bat Pattern Completion

FX:GBPUSD   British Pound/U.S. Dollar
104 0 3
Note: I know some of you may say that this is not a Bat Pattern and it is really a Gartley Pattern . After some time backtesting, I just call anything with a XA retracement between 0.382 up to 0.7 as a Bat Pattern . Just the way I define it. I know that Akil Stokes & Jason Stapleton at Trade Empowered have augmented the pattern to have a 1.272 Fib BC             extension (do correct me if I am wrong on that).

Identify:

Predict:
  • Price Action may bounce off the trend line and continue down to Bat Pattern Completion
  • Upon completion of the Harmonic Pattern somewhere within the reversal zone, price action may then continue up to retest the Blue highlighted structural zone (which matches a 0.5 CD retracement).

Hope for the best.
Comment: so far so good. Price action is coming closer to our kill zone... special thanks to the BoE news event that caused price action to tank.
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