KVE
Short

GBP/JPY: Short term short off a possible bat?

FX:GBPJPY   British Pound/Japanese Yen
240 5 6
I'm long on the longer term based on my previous idea. This bat could be a good shorter term short opportunity though.

1 target as shown on chart, SL 15 pips above X. Some might want to take the usual targets at the 38.2 and 61.8 ret of CD.
I will try to watch PA closely around that bat completion level to enter or I might set an order for it if I'm not available by that time.

If the bat works out then I'll try to add longs as per my longterm view around the 50%-61.8% retracement of this bat, SL below the lowest low, target as in my previous idea.

Longterm idea here:
GBP/JPY: End of wave C or 3? Should be going up some now...
Order cancelled
KVE arif_awan
I saw that, great!!
Reply
Hi, just learning around here.. Is it right to say for the BAT to form, it has to hit point D ?
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KVE nl88
Yep, bat completes at D, typically 0.886 retracement of XA!
+1 Reply
is it time to enter a short ?
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