Emerging Bat Pattern – GBPUSD – Daily Timeframe

Click here to view chart.
A potential Bat pattern is in the making.
Although the pattern would be classified as a Bullish Bat, one can trade the CD leg to the downside, especially now that the price has moved below point B.  One can trade this by looking for entries on lower time frames and setting multiple intermediate price objectives before point D.
Ideally I would have liked to see 1.27 AB confluence around the PRZ.  However in this case, the PRZ is past 1.27 AB.  The PRZ also aligns with a previous support level/demand zone.
This entry was posted in Bat, Forex, GBPUSD, Harmonic Pattern. Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s