GBP/USD - Bullish Bat

Hello traders, here we have GBP/USD on the 15m chart with a valid bullish bat pattern.

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
XA Retracement: 0.886

Price has confirmed the PRZ which consisted of a 1.618 AB=CD, 2.24 BC and 0.886 XA retracement as the final ratio.

I'm paying attention to this small structure in the PRZ on the 1m chart, awaiting a break to the upside.

Due to the nature of this setup, I'm waiting for further confirmation of the reversal.

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تعليق:

Breakdown of the 1m structure, now expecting price to return to 1.31268 which provides a better entry but still unsure of the reversal.

Awaiting for price action to unfold before buying.

تعليق:

PRZ violated, we're seeing aggressive downside movement... Onto the next opportunity.

We may still experience a reversal lower, but to me

This is a prime example as to why we don't jump the gun on positions and wait for the setup to materialise.