russelldaily
Short

Alternate Bat Completion

FX:GBPJPY   British Pound/Japanese Yen
240 1 1
This Bat completion stopped just above the 1.13 extension of the XA leg. It then retraced approx. 140 pips but I'm not convinced to enter just yet. I would rather look for a double top and then Bearish indication. Also, I would not think of entering a yen trade until after the 9:30 Kuroda speach. I can't draw a definite short entry because I won't know where I will get a bearish indication. This is all based on a reveral off the double top . If price significantly breaks the 182.50 it's a whole new ballgame. I am currently long with one half position at the top and the other half at the 1.27 extension of the XA leg.
Highly Unlikely considering the Strength :)
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