BIG BEARISH BAT - GBPUSD - 240M - ADVANCED PATTERN
Hi All, I wanted to share this big bearish bat pattern setting up here after our news release.
I have chosen this X leg as the impulse leg based on our previous structure level.
This is a very respected level of structure in the past if you follow price back you will see how price reacted at these levels.
We will see how price reacts but I cant see it going beyond 1.57000 before some sort of retrace.
Keep your eyes on this hopefully we can find a reason for entry when we get to the 88.6%
Previous Major Resistance
AB=CD Harmonic Move
Advanced Pattern Completion
RSI should be very O/S
This is providing us with a lot of confirmation and close to Major FIB EXT 1618
The reaction at that level bringing it right inline with the 88.6% is a great sign.
Good Luck and happy trading guys.
I have chosen this X leg as the impulse leg based on our previous structure level.
This is a very respected level of structure in the past if you follow price back you will see how price reacted at these levels.
We will see how price reacts but I cant see it going beyond 1.57000 before some sort of retrace.
Keep your eyes on this hopefully we can find a reason for entry when we get to the 88.6%
Previous Major Resistance
AB=CD Harmonic Move
Advanced Pattern Completion
RSI should be very O/S
This is providing us with a lot of confirmation and close to Major FIB EXT 1618
The reaction at that level bringing it right inline with the 88.6% is a great sign.
Good Luck and happy trading guys.