GBPUSD Bullish Bat completion
Bullish Bat pattern is completed.
Potential reversal zone (PRZ) has many fibonacci extensions in it, not only one or two. That makes this level even more important as a potential reversal area. Structure is giving strong support and there is also an ascending trendline giving some support at this level.
After a strong downtrend move that has taken price from 188.700 to 175.580 it would be wise to wait for some kind of confirmation of potential reversal before entering.
Could be a great trade with great risk/reward, but be careful...
Potential reversal zone (PRZ) has many fibonacci extensions in it, not only one or two. That makes this level even more important as a potential reversal area. Structure is giving strong support and there is also an ascending trendline giving some support at this level.
After a strong downtrend move that has taken price from 188.700 to 175.580 it would be wise to wait for some kind of confirmation of potential reversal before entering.
Could be a great trade with great risk/reward, but be careful...
Ordre annulé:
Price went down without signs of reversal so there was no trade.
