TheAlcoveFx

GBPJPY: Harmonic Pattern & Structure

FX:GBPJPY   British Pound/Japanese Yen
Hey traders,

Today we have a cool opportunity, we have a BAT harmonic pattern lining up with some minor support. What's key to look at is how price is making lower lows with lower closes giving a higher indication of a bearish trend . Price has continued to follow trend behavior by breaking new structure lows, coming back up to re-test and then continuation to the downside.

We can put this together along with our Bat pattern completing in this kill zone, We have a great trading opportunity to short the market when IF it comes back up to that level. Stops Above X and targets down at the 38.2/61.8

Like always if you have any questions, comment below, follow us on social media !

Daniel Garnier - Founder of The Alcove Fx
http://www.thealcovefx.com

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