EURGBP - Bullish Bat Pattern on Daily Chart

15 Apr 2017

• A potential bat pattern might be forming on the daily chart
  
• RSI on it's way to oversold level
  
• R:R at 1.15 (TP1) and 1.9 (TP2)
  
• I have placed SL at 0.834, much lower than the usual 5-20 pips below X leg
  
• 0.834 is a strong daily support level
  

As the SL is much bigger at about 105 pips, please adjust lot size to fit your risk appetite.
NOTE :

• EU summit is on 29 April to discuss Brexit on 29 April, 2 weeks from now
  
• Volatility is expected
  

19 Apr 2017

Nota

Pattern has become invalid, price has dropped and hit SL in a day, no trade for this bat pattern.
However, I am looking at another possible butterfly pattern that is emerging on daily chart.