Bullish Bat Pattern Forming On GBP/JPY 4-Hour Chart Long

British Pound/Japanese YenFXCM

Description

⋅ Nov 12, 2012 4:09 AM

This Bullish Bat pattern looks pretty good with three Fibonacci levels in confluence with a previous support zone too. Looking to trade this long when price reaches down to Point D.

For a more detailed description of the confluences I found on this pattern, please read my blog post here: simplychartpatterns.wordpress.com/2012/11/12/bullish-bat-pattern-forming-up-on-gbpjpy-4-hour-chart/

Comments

kschiangb6

⋅ Nov 16, 2012 1:46 AM

Well, this one basically did not reach close enough to point D to trigger my pending buy order. So for me, its a scratch.... Back to the drawing board folks