Bullish Bat Pattern GBP/JPY
Enter long only once price closes above Leg B (151.631) of the Bat pattern; or if you want to play it extra safe, enter
once price closes above Leg X of the adjacent Crab pattern.
I could have drawn Leg D to the low of today at 151.028,
however, I made this pattern yesterday already and there
seems to be ample support below 151.200 from where price
has now reversed, or resuming the bullish trend.
Scale out profits as illustrated, just in case price wants to go deeper targeting 150.164 and 149.757 respectively.
Only target the latter levels if price closes below 151.200/180
Happy trading
Enter long only once price closes above Leg B (151.631) of the Bat pattern; or if you want to play it extra safe, enter
once price closes above Leg X of the adjacent Crab pattern.
I could have drawn Leg D to the low of today at 151.028,
however, I made this pattern yesterday already and there
seems to be ample support below 151.200 from where price
has now reversed, or resuming the bullish trend.
Scale out profits as illustrated, just in case price wants to go deeper targeting 150.164 and 149.757 respectively.
Only target the latter levels if price closes below 151.200/180
Happy trading
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