FX:GBPJPY   British Pound/Japanese Yen
94 3 4
GBP/JPY             has a very deep bat pattern setting up @ 132.15. Looking for T1 @ 131.45
simple_fxschool
4 months ago
I believe d present candle indicate bullish continuation
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holladaygolf PRO simple_fxschool
4 months ago
Maybe, but when you trade patterns you should not look at the last candel of the pattern to determined if you should or shouldn't take a trade. This trade may be a loser, but what I can tell you is that in back testing this pattern has a win ratio of 65%. I know that as long as I take every bat pattern I see, in the end, I will make money. If I start to skip trades just because I don't like how price action got to my entry point then I start to influence my win to loss ratio and turn a winning strategy into a losing one.
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holladaygolf PRO
4 months ago
Trade Closed +50 pips
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