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GBP/CHF: Bearish Bat

Published 04/13/2017, 12:01 PM
Updated 07/09/2023, 06:32 AM

GBP/CHF has formed a valid bearish bat pattern on the 4h timeframe which offers a solid risk to reward of 1:4 depending on your take profit level.

Currently, price is stalling in the potential reversal zone showing various signs of indecision, indicating a reversal.

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

GBP/CHF 4 Hour Chart


The D point formed on a major level of resistance, I'm expecting a sell-off very shortly.

Taking a look at the bigger picture this trade is a no-brainer for me!

GBP/CHF 4 Hour Chart 2


Entry: 1.26100

SL: 1.26880

TP: 1.22770

Latest comments

Hi Lewis, would you say the Bat pattern is still intact?
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