GBPJPY 15M - Potential Gartley Long and Bat Short Patterns
Hi all,
There are 2 potential patterns forming up on the GBPJPY 15M. A Gartley long @ 160.68 and a Bat short @ 163.39.
For the Gartley Long @ 160.68:
Stops below X (which is at 160.14)
Target 1 @ 161.61
Target 2 @ 162.19
For the Bat Short @ 163.39:
Stops above X (which is at 163.85)
Target 1 @ 162.03
Target 2 @ 161.18
Remember to make sure these fit your plan and your position sizing is accurate as the stops are quite large on these.
As always, targets will be adjusted should the patterns fill.
There are 2 potential patterns forming up on the GBPJPY 15M. A Gartley long @ 160.68 and a Bat short @ 163.39.
For the Gartley Long @ 160.68:
Stops below X (which is at 160.14)
Target 1 @ 161.61
Target 2 @ 162.19
For the Bat Short @ 163.39:
Stops above X (which is at 163.85)
Target 1 @ 162.03
Target 2 @ 161.18
Remember to make sure these fit your plan and your position sizing is accurate as the stops are quite large on these.
As always, targets will be adjusted should the patterns fill.
Trade closed: target reached:
Gartley pattern invalidated overnight, but the Bat pattern filled and hit Target 1 for +138 pips.
Target 2 stopped out at break even.
Target 2 stopped out at break even.