This are 2 potential setups on GBPUSD.
The first one is an imperfect bat which could turn anytime soon.
The reason it is imperfect is because the B point has slightly exceeded XA 0.50.
However, it did not touch 0.618 and it is still technically still a Bat.
I have my reservation on this as a B point between 382 to 618 could result in a Crab.
The next few days are critical, if GBPUSD reverses and closes above the PRZ, this bat can still play out well at least to TP1.
If it continues to fall further, I expect a potential crab around 1.22.
Bat Pattern Execution
PRZ 1.2720-1.2730
SL 1.2550
TP1 1.2940
TP2 1.3080
Crab Pattern Execution
PRZ 1.2270 - 1.2280
SL 1.2000
TP1 1.2720
TP2 1.2920
The first one is an imperfect bat which could turn anytime soon.
The reason it is imperfect is because the B point has slightly exceeded XA 0.50.
However, it did not touch 0.618 and it is still technically still a Bat.
I have my reservation on this as a B point between 382 to 618 could result in a Crab.
The next few days are critical, if GBPUSD reverses and closes above the PRZ, this bat can still play out well at least to TP1.
If it continues to fall further, I expect a potential crab around 1.22.
Bat Pattern Execution
PRZ 1.2720-1.2730
SL 1.2550
TP1 1.2940
TP2 1.3080
Crab Pattern Execution
PRZ 1.2270 - 1.2280
SL 1.2000
TP1 1.2720
TP2 1.2920