Good afternoon everyone, here we have GBP/JPY on a 4 hour time frame having already completed a bullish bat,
This is an excellent trading opportunity with a potential risk to reward of nearly 1:3.
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'll be looking for additional confirmation before taking the trade! price has oversold on EM and is in between support and resistance.
I hope everyone has a good week ahead, please leave a comment or interact and I will be sure to reply.
This is an excellent trading opportunity with a potential risk to reward of nearly 1:3.
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'll be looking for additional confirmation before taking the trade! price has oversold on EM and is in between support and resistance.
I hope everyone has a good week ahead, please leave a comment or interact and I will be sure to reply.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.