Art_of_Trading
Short

GBPJPY: Bat Pattern / SELL

FX:GBPJPY   British Pound/Japanese Yen
On FX:GBPJPY             , as you look at 4H chart, it is clear that the market moves sideways. There is no direction bias. The price is going close to 17th September High, where the price bounce is expected. The big institutional order mostly placed on key zones, so why not follow big guys?!

There is a valid bat pattern , which gives the signal where to go short. Also, we have clear SL and TP zones identified. Thus, when the price hits 88% retracement of XA leg, it is a good signal for SELL. This potential trades has a great Risk/Reward.
T1 - 38.2%
T2 - 61.8%
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