GBPUSD has formed a bat pattern on the 15min timeframe.
I see the bat pattern traded many different ways. Some like that priceaction at the C leg can't close above the .886 retracement of A-B move. Some think that as long B-C is under A, then the pattern is valid.
Some only trade batpatterns in stocks, some only in forex.
There is no 100% right way to trade it. Therefore you will need to backtest this pattern - and other patterns, for yourself before trading them.
I wish you all a happy trading week!
I see the bat pattern traded many different ways. Some like that priceaction at the C leg can't close above the .886 retracement of A-B move. Some think that as long B-C is under A, then the pattern is valid.
Some only trade batpatterns in stocks, some only in forex.
There is no 100% right way to trade it. Therefore you will need to backtest this pattern - and other patterns, for yourself before trading them.
I wish you all a happy trading week!
