EURGBP - Bullish Bat pattern completed

With the down trade that successfully completed, we also completed a bullish bat pattern on EURGBP.
Since the pair is consolidating chances are good that we'll be able to grab some pips on the retracement as well.

The stop loss in this case goes 15 pips (or 1 ATR) below the X-point and sits @ 0.7030.
I set 2 targets :
The 38.2% retracement of the AD move sitting just below 0.7110 and at previous support (which could turn into resistance). (Reward-Risk approx 1.5:1)
The 68.1% retracement of the AD move around 0.7140 and at another previous structure level. (RR : approx 2.5:1)

액티브 트레이드:

Entry 0.7060
SL 0.7030

코멘트:

RSI divergence on double bottom gave me the additional confirmation I was looking for.

코멘트:

TP1 reached - stops rolled to break even for a risk free trade

코멘트:

While heading for TP2, a new cypher pattern is being created. Check the EURGBP - Back to back patterns - Bear Cypher link for more information

거래청산: 스탑 닿음:

After taking profits at TP1, our trade reversed and hit the stop loss sitting at break even