Bullish bat- 4 hour time frame- GBP/JPY
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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