EURGBP Bearish Bat and White Swan Formation
Description: We have two bearish harmonic patterns on H4 chart timeframe sending bearish retracement signals. The Bearish White Swan would be completed at 0.89200 and The Bearish Bat has almost been completed at 0.88900. If the paterns work as anticipated, the first target will be 0.88550. The ascending trendline must be broken in order to see the bearish continuation.
Trade Period: Midterm Trading
Pair / Instrument: EURGBP
Time Frame: H4
The trend in the Timeframe: Bullish
The trend in the Daily Chart: Bullish
Trade Based On: Bearish Bat and Bearish White Swan Harmonic Patterns
Accuracy: %91 ( Bearish Bat ) 88% Bearish Swan
Recommended Lot Size: 0.05@ 10 K Account with 1:100 Leverage
The Area Of The Entry: 0.88900 Bearish Bat – 0.89180 Bearish Swan
Stop Loss: Above 0.89500
Target 1: 0.88600
Target 2: 0.88150
Target 3: 0.87700
What to Pay Attention:
- If the patterns do not work as anticipated, the pair is likely to test 0.89940 2.618 Extention. We will look for a short opportunity
- You can add short at the potential breakout of the rising trendline. We will send entry notfication to the members for additional short opportunity.
You can view the setup: EURGBP BAT PATTERN
Update: TP3 Reached. Bat 120 Pips Swan 100 Pips . 130 Pips So far. We close 30 of the positions and move Stop Loss to break even.
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