Opportunity to short GBPJPY at a bat pattern
I see a possible short (red zone) opportunity with a bat pattern formation in the hourly chart with :
+ AB=CD
+ 127.2 extension of AB in confluence with the D completion of ABCD and 88.6 retracement of the XA leg
+ The black lines are important structure levels ( scroll to the left around 07/03/2014 and the months after )
Don't forget to take in consideration the an overbought condition from the RSI
Note : pay attention the green line below ( 38.2 retracement in the Monthly chart ) and important historic level to be taken as a secondary target or a long opportunity .
Everything is possible !
+ AB=CD
+ 127.2 extension of AB in confluence with the D completion of ABCD and 88.6 retracement of the XA leg
+ The black lines are important structure levels ( scroll to the left around 07/03/2014 and the months after )
Don't forget to take in consideration the an overbought condition from the RSI
Note : pay attention the green line below ( 38.2 retracement in the Monthly chart ) and important historic level to be taken as a secondary target or a long opportunity .
Everything is possible !
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