olly_price
Short

GBPJPY bat pattern short

FX:GBPJPY   British Pound/Japanese Yen
Just starting to develop a trading strategy with a demo account (I am first exploring FX, 1 hr             charts, and 3 different chart patterns). Please ignore SL and profit targets as I will be varying these over the coming months during my research.

So this is a bearish bat pattern, the second leg goes nicely into the 0. 5-0 . 618 retracement area, third leg falls beyond the 0.618 retracement of the second point, and I have set an entry target (indicated by the blue line) at 168.502( ish             ), which is at the 0.886 point.

I am mainly just posting this to see what you guys think with regards to my bat sketch.
Trade closed: stop reached
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