GBP.JPY - Bullish Bat Setup @ Market
On the GBP.JPY 1hr chart we have a potential long opportunity's at the D leg completion of bullish Bat setup.
The price reversal zone on this pair is between 139.081 & 138.844
The PRZ zone is only a guideline of where we will be paying attention for trade setups and opportunity's.
Potential targets for the Bat setup placed at the .382% and .618% retracement of the A to D move.
There is also an opportunity to look for extended targets at 140.40
Stop loss would be placed below X leg structure support .
Target 1 - 139.720
Target 2 - 140.114
The price reversal zone on this pair is between 139.081 & 138.844
The PRZ zone is only a guideline of where we will be paying attention for trade setups and opportunity's.
Potential targets for the Bat setup placed at the .382% and .618% retracement of the A to D move.
There is also an opportunity to look for extended targets at 140.40
Stop loss would be placed below X leg structure support .
Target 1 - 139.720
Target 2 - 140.114
Comment:
This setup is no longer valid.
Comment:
If you set a 1:1 RR your target 1 and 2 should be attained.