We have a nice bullish bat forming on the GBP/USD pair, Intermediate Timeframe is 1H, Major is 4H and Minor is 15M.

I expect this pattern to complete by the end of this week (01/07/2019)

The following are the things I like to see confirmed before taking a trade:

XA Retracement Is: 0.886
BC Projection is: 2.618
Alternate AB=CD is: 1.618.

Stop loss level is measured with the fib retracement tool from X to A using a set ratio 1.13.
Take profit level is measured with the fib retracement tool from A to D using a set ratios 0.382 and 0.618

If price reaches the 0.382 ratio I would move my stop loss into break even or just into a little profit to bulletproof the trade ensuring if the trade goes against me I will not take a loss and even a small profit.

If you have any questions feel free to drop it in the comments.

Happy trading and hope everyone has a great day!

Matteo :)


alternateabcdbcprojectionBullish BatHarmonic Patternsretracement

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