Hello traders, here we have another bat pattern but this time on the 1h timeframe with EUR/GBP.
Excellent opportunity with over 1:3 risk to reward.
The measurements for a valid bat pattern are detailed below.
B: 0.382 - 0.50
C: 0.382 - 0.886
D: 1.618 - 2.618
Final X to D: 0.886
I'll be expecting price to stall out once it reaches the the D point, keep this setup on your watch list.
I hope you all have a great week :)
Excellent opportunity with over 1:3 risk to reward.
The measurements for a valid bat pattern are detailed below.
B: 0.382 - 0.50
C: 0.382 - 0.886
D: 1.618 - 2.618
Final X to D: 0.886
I'll be expecting price to stall out once it reaches the the D point, keep this setup on your watch list.
I hope you all have a great week :)
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