Here we have an extended bearish bat pattern, this time we are looking at GBP/JPY on a 4h chart with a this perfect shorting opportunity.
The measurements for a valid bat pattern are detailed below.
B: 0.382 - 0.50
C: 0.382 - 0.886
D: 1.618 - 2.618
Final X to D: 0.886
As you can see our pair is approaching a major turning point in the market, I would like to see price stall out in this area before making a move lower.
The measurements for a valid bat pattern are detailed below.
B: 0.382 - 0.50
C: 0.382 - 0.886
D: 1.618 - 2.618
Final X to D: 0.886
As you can see our pair is approaching a major turning point in the market, I would like to see price stall out in this area before making a move lower.
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