A type 2 Bat has formed up, so what is a type 2 bat, it simply means a retest of the entry level of the bat pattern.
Although if the Bat has hit the 1st target during the setup and it is also a counter-trend move, it is not my favourite bat setup for a retest as some traders might have already exited this trade (losing the force to push it up). In this particular...
We spotted this together during Yesterday live session isn't it. It forms up nicely like what we have been waiting for.
On this 1-hourly timeframe, it is a trend trading opportunity but on the higher timeframe, it is a view as a counter-trend?
So what is your strategy in engaging this trade?
Fundamentals suggesting strengthening signals for GBP as the scheduled data releases all higher than previous.
Waiting on a technical entry, too early to jump in. Be patient and wait for a confirmation for higher success.
Strong Bearish Signal:
The pair showed a sharp bullish impulse, but then it was totally absorbed by the huge drop supported by large institutional volume. It means that sellers dominating the market, moreover, the large negative delta confirms this statement.
We need to point out the new level of resistance 1.2797. This level contains the large...