GBP/USD Bearish Bat Pattern
A possible Bearish Bat Pattern forming based on 0.50 retracement of XA leg.
Confirmed by sturcture support (green line)
Bearish Bat:
B = 0.382 or 0.500 retracement of move XA
C = 0.382 or 886 retracement of move AB
D = If the retracement of move B C is 0.382 of move AB then CD should be 1.618 extension of move B C.
Consquently, if move B C is 0.886 of move AB then CD should be 2.618 extension of move B C.
CD should be 0.886 retracement of move XA.
Confirmed by sturcture support (green line)
Bearish Bat:
B = 0.382 or 0.500 retracement of move XA
C = 0.382 or 886 retracement of move AB
D = If the retracement of move B C is 0.382 of move AB then CD should be 1.618 extension of move B C.
Consquently, if move B C is 0.886 of move AB then CD should be 2.618 extension of move B C.
CD should be 0.886 retracement of move XA.
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