Bearish Bat Pattern – GBPUSD – H4 Timeframe

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Price @ a key Supply Level (Resistance), which also coincides with the PRZ (Price Reversal Zone) of the bearish BAT.
Point D has exceeded 88.6XA, so this is not an ideal BAT pattern.  However still less than 100XA, which would make it a double top.
CD has also exceeded 1.272AB, the latter projection being ideal for a regular BAT pattern.
Entry Suggestions
See how price reacts in the PRZ, since it could move higher.  Enter on a break below 88.6XA (1.5847) or a break of the CD Trendline.
Above D or above high of Supply Level.
Target Suggestions
38.2AD, 61.8AD, 127.2AD, Pt C, 127.2 AD, 161.8AD
This entry was posted in Bat, Forex, GBPUSD, Harmonic Pattern. Bookmark the permalink.

3 Responses to Bearish Bat Pattern – GBPUSD – H4 Timeframe

  1. raafat mostafa says:

    can you explan bat bearish?

  2. One618 says:

    Price did not move in the expected direction. One should have been stopped out if the trade was taken at the identified level. I still see multiple supply zones stacked on top of the current price, so wouldn’t be surprised if the price did retreat.

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