g2-rockach
Long

Possible Bullish Bat Pattern on the 4hr GBP/JPY

FX:GBPJPY   British Pound / Japanese Yen
42 1 0
The GBP/JPY             is in an upward trend. I think that it may come back and test the previous support levels, which coincide with the 86% Fib level of the Bullish Bat pattern.

Plan: If price comes back to retest previous support
Long position at the 86% fib
Stop loss below the X
Profit targets will be at the 38% of the A-D retracement. Moving stop loss to break even. Taking the rest of the profit at the 61.8% fib.
At last movement
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