GBPJPY - BEARISH BAT PATTERN WITH CONTINUATION POTENTIAL

The 2nd pair we visited in this weekend's video was the GBPJPY. On the higher timeframe we have recently violated a previous level of structure support which gives me a bearish bias. We also have a potential bearish bat pattern forming to add some confluence to that idea.

Most of the time advanced pattern formations form within a period of consolidation, but every once in a while you'll see one like this which comes withing a complex pullback of an overall trending market. In these types of situations, not only does it add confluence to your idea, but it also offers the opportunity to be more aggressive with your target(s).

For the video walkthrough of this setup please see my youtube video title "A Lesson on Structural Integrity" around the 5:50 mark

I hope you have a great trading week!

Stay Safe!

Your Trading Coach - Akil