GBPUSD: 1HR Potential Bullish Bat & Cypher Patterns

Two potential patterns here on the Cable this morning. A potential bullish bat pattern in blue and a potential bullish cypher pattern in pink. Both should be tradable unless you’re using a massive stop loss for the bat pattern. In that case it’s best to choose one over the other beforehand so that you don’t get yourself into a potential revenge trading situation. Obviously make sure you follow your rules as far as what you trade and how much you’re allowed to risk per trade. I know for me the cypher pattern doesn’t meet those standards so if price action moves down there I’ll need to look for an alternate reason for entry. Most likely using the CTS or Combined Technical Score type of analysis (a point system/checklist for evaluating trades).

Something to keep in is that this is a very heavy news day with USD & CAD CPI releases at 8:30am Also the Michigan report as well at 10am.

If you didn’t catch it last night here’s a link to my Weekend Review video, where I review where I walk you through the USDCAD trade from earlier in the week as well as discuss what I believe are the best times, days & months to trade. I’ve set out a goal to reach 10,000 subscribers by the end of summer so it would be MASSIVE if you guys should help me out by subscribing to my channel and spreading the word. *I apologize for the ads in this week’s video but that’s what they do when you use actual songs instead of free youtube music I guess*

“A Controversial Trade/The Best Time to Trade” www.youtube.com/watch?v=noqQm-zS...

Anyway have a great end of the week and an even better weekend!

Akil Stokes
Chief Currency Analyst
www.TradeEmpowered.com
Akil@Tradeempowered.com /@AkilStokesRTM / Forex Weekend Review Videos:
www.youtube.com/playlist?list=PL3pk...