EUR/GBP: Bearish BAMM

Today we have EUR/GBP on the 1h chart with a bearish BAMM (Bat Action Magnet Move) setup in combination with a bullish bat pattern. 

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 

Final X to D: 0.886 

I understand the BAMM theory will be relatively new to most traders, I've posted a few charts about this style of trading but it simply focuses on a breakout of the B point. 

A clear break and close below support at B would indicate further declines, therefore, completing the D leg around 0.87700. 

Below are my stop loss and take profit levels. 

SL: 0.89350 

TP: 0.87700 

This is an excellent opportunity with around a 1:3 risk to reward. 

Green area displays the profit zone. 

I hope you all have an excellent week :)

Click here to view my original post on TradingView.

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