GBPJPY - 4HR - Long idea - 3 converging patterns, no entry as yet
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Smaller Crab pattern with great XA impulse starting in an oversold state ( we see the reaction here already)
Greater Spanning patterns of BAT and Gartley completing in the same zonal area
Good harmonic resistance here for a reversal
We are only missing the DIV play for an entry, so over the next day I will be looking for DIV on the 1 and 4 Hour.
We still have a little while to go for the Broader BAT to play out.
Sit tight and waiting for entry.
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Smaller Crab pattern with great XA impulse starting in an oversold state ( we see the reaction here already)
Greater Spanning patterns of BAT and Gartley completing in the same zonal area
Good harmonic resistance here for a reversal
We are only missing the DIV play for an entry, so over the next day I will be looking for DIV on the 1 and 4 Hour.
We still have a little while to go for the Broader BAT to play out.
Sit tight and waiting for entry.
Note
Looking at the DAILY we are also at the 618 of the previous swing.Its all starting to add up, and maybe we wait until the BAT complete which should bring Divergence on the RSI on the push down.
Note
As from the DAILY this is a correctional trade in a more Bearish move on the DAILY patternTrade active
AB=CD active , divergence set, I dont think needs to hit the BAtTrade active
DIV has turned beautifully on the 30 after coming out of oversold - even better entry, maybe wait for a pull back, but this is exactly what I look for at a top or bottom.
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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.