TomHall
Long

GBP.JPY - Bullish Bat & ABCD Pattern

FX:GBPJPY   British Pound/Japanese Yen
On the GBP/JPY             15min chart we have a potential long opportunity's at the D leg completion of a Bat Pattern and a ABCD move

ABCD completion - 169.834
Bat Pattern D leg completion - 169.637
Fibonacci Clusters - 169.685 (1.414%) - 169.665 (1.618%) - 169.642 (0.886%)

The PRZ zone is only a guideline of where we will be paying attention for trade setups and opportunity's.

Potential targets for Bat pattern is placed at the .382% and .618% retracement of the C to D move.
Stop loss would be placed below X leg structure support

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CapMoore
10 months ago
Nice. It looks like the targets are drawn from B-D rather than C-D. I think we might see a Butterfly instead because
X here is a perfect touch of Yearly S1 (pivots are the most widely used indicator and should be part of any analyse imo)
but the D level of the Butterfly on Daily timeframe stands just below, as do a ABCD pattern. We might see a w & R of the
lows to complete the Daily Butterfly. Either way, it is a setup you have which looks fine. Caution though because of the
uncompleted daily Butterfly.
+1 Reply
CapMoore CapMoore
10 months ago
I took profits by the Yearly S1 instead of the D-level of the Daily Butterfly. But didn't switch to longs because of the unfinished
Butterfly buy.
Reply
TomHall TOP CapMoore
10 months ago
I don't personally trade the butterfly so it is not something that is incorporate into the analysis.
We also have Kuroda & Carney's speeches today which is something also to take into consideration.
+1 Reply
TomHall TOP
10 months ago
This trade is now live.
Reply
DerekUweri71 TomHall
10 months ago
Tom, nice set up.
+1 Reply
TomHall TOP DerekUweri71
10 months ago
Thanks very much
Reply
asiansupermarket
10 months ago
Looks like it's ready to go! That test was pretty close to stop.
+1 Reply
TomHall TOP asiansupermarket
10 months ago
This previous closing candle was not ideal, but we will have to wait and see.
+1 Reply
asiansupermarket TomHall
10 months ago
awesome trade like usual tom!
+1 Reply
TomHall TOP asiansupermarket
10 months ago
Thanks very much, onto the next one :-)
Reply
TomHall TOP
10 months ago
Target 1 & Target 2 attained
Reply
DerekUweri71 TomHall
10 months ago
Nice one Tom !!! Slowly but Surely.
+1 Reply
TomHall TOP DerekUweri71
10 months ago
We got there in the end lol
Reply
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