FX:GBPJPY   British Pound/Japanese Yen
822 9 38
I predicted the move long time ago that the bearish bat is shaping up and its almost there to fill it. Looking good potential trade to me. Its near the supply area and also the structures you see around X.

Guidelines
1. Never close a trade without a reason.
2. Take responsibility for your trades.
3. Markets that have higher lows are in uptrends. Markets that have lower highs are in downtrends.
4. Always do your analysis prior to the market open
Trade closed: target reached
I feel the same, we have been waiting for this to complete for the last two weeks, prices struggled to get up to the supply zone which suggests we might see prices dropping rapidly once the pattern is complete!

Good one man.
+1 Reply
morshedul.sazid abrar.ahmed1408
Yes, Hopefully we will have a pretty good decline after all the ratios have been met.
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Doesn't need the 0.886XA and 1.618AB meet at the same price to be pattern bat?
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morshedul.sazid cperezmontilla
No, Not really, its just we need a mandatory Ab=CD in a bat.
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cperezmontilla morshedul.sazid
Thank you very much for your answer, then AB=CD already happen at 186.10, in fact it drop from around that area at 186.20.
GBPJPY
+1 Reply
morshedul.sazid cperezmontilla
:) Welcome!
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cperezmontilla morshedul.sazid
Don't you think it was better sell at 186.10 where AB=CD and it was supposed to complete de Bat pattern or do you think it can go higher to 1.618BC?
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morshedul.sazid cperezmontilla
I normally do not trade the AB=CD unless it is itself inside a larger AB=CD, It falls under advance pattern trading: The AB=CD is just for the completion of the bat, to make it more perfect, however if you AB=CD falls short, you are not selling there you wait for the Bat to complete.
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cperezmontilla morshedul.sazid
Ok thank you for the info, will see what happen today with all the news related to uk economy in the London session.
+1 Reply
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