GBPUSD - Looks to be a Bull Trap - BEAR Flag - Advanced Patterns

Hi Traders, just thought to post this one up. As we see bears selling at the levels and bulls coming back on board. Be quite interesting to see which way we go from this area.

Either way if price falls to an Flag completion - buying up the Cypher would present a great opportunity. If price goes upwards we still have the Valid BAT

I dont trade flags or anything else but its always good to analyses multiple strategies to add to our potential reversal zones or profit taking buying and selling area's.

I will update as we go up or down.

Kommentera:

Looks to be testing the B Leg Structure of the potential Cypher. If we break and close below Cypher Entry would be a good chance of price reversal. Keeping in mind the Psychological 1.30000

Kommentera:

We also have a BAT Pattern which has formed - another pattern which adds to our probability of price reversal.