GBPUSD short Bat pattern and inverse head and shoulder formation
This is a more in depth view of my previous post.
CONFLUENCES:
- D completion (1.618%) Is also the 2H Lower High point measuring a 61.80% Retracement (Note that this is also the third touch of the 2H trend line)
- From the D completion of around 1.30940, i will be expecting a decline to 1.30300 which is also the right shoulder of the 4h inverse head and shoulder formation before the rally of the pattern completion.
- From the 1.30300 I will be looking for long positions
CONFLUENCES:
- D completion (1.618%) Is also the 2H Lower High point measuring a 61.80% Retracement (Note that this is also the third touch of the 2H trend line)
- From the D completion of around 1.30940, i will be expecting a decline to 1.30300 which is also the right shoulder of the 4h inverse head and shoulder formation before the rally of the pattern completion.
- From the 1.30300 I will be looking for long positions