GBPUSD TWO POTENTIAL ADVANCED PATTERNS

British Pound/U.S. DollarFXCM

Description

⋅ Jul 19, 2016 11:15 AM

Hi traders,

On the GBPUSD I am looking at two potential patterns forming. The red one is a bat pattern and the blue one is a cypher pattern. Both of them complete at point D.

---------Bearish bat patten---------
Entry: 1.34385
Stop: 1.3532
Target 1: 1.33044 = R:RR 1.4
Target 2: 1.31570 = R:RR 2.91

---------Bullish cypher pattern---------
Entry: 1.2902
Stop: 1.2765
Target 1: 1.31108
Target 2: 1.32017

Will keep this updated as time progresses. Best of luck!

Comment

⋅ Jul 19, 2016 12:23 PM

Red bat pattern is now invalid.

Order cancelled

⋅ Jul 27, 2016 9:51 AM

This pattern is taking forever to complete.

Comments

11021992

⋅ Jul 27, 2016 9:52 AM

Order cancelled on the blue pattern as well.

11021992

⋅ Jul 22, 2016 8:22 AM

Red pattern is invalid. Price went beyond A.