GhostFXC
Short

Bat / Alternate Bat

FX:GBPJPY   British Pound/Japanese Yen
Following the move down near the 174.860, we find resistance at 176.571 which meets the criteria for a few harmonic patterns: The Bat, and the Alternate Bat which both meet at the 38.2 retracement. We see the 88.6 pullback near the 175.086 area based off the XA leg of the move.
Bearish Bat confirmation found at 178.718 for a 1:4 RISK to REWARD ratio
Bearish Alternate Bat confirmation found at the 1.13 extension above the XA leg at 179.811 for a 1:5 RISK to REWARD ratio.

Be aware of any news that may occur during London/Tokyo crossover today and tomorrow that may throw this pattern off.
doqstrader
2 years ago
i love most when u Analise with Elliot Wave. thank you.. i shall following ur analysis.
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