2018Oct30 GBPCHF H4 Bullish Bat

GBPCHF has been on a downtrend and completed a bullish bat. A bullish reversal divergence is seen on H4 timeframe. Upon confirmation of the bullish bias, I will go long. Stop loss is just below the X point. The take profit target is set at the 38.2 Fibonacci retracement level of the leg AD. Trade details are as follows:

Trade Setup: Bullish Bat
Price Entry 1.27816
SL 1.27322 | SL pips 49.4
TP1 1.29093 | TP1 pips 127.7
RRR1 2.59