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.
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This entry was posted in Bat, Forex, GBPUSD, Harmonic Pattern. Bookmark the permalink.

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