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GBP/JPY forms Bearish BAT Pattern, good to sell on rallies

FX:GBPJPY   British Pound/Japanese Yen
552 1 4
Harmonic pattern formed- Bearish Bat Pattern

Potential Reversal Zone (PRZ) – 186

Any break above 186 will take the pair to new level 187/188.

On the down side minor support is 185 and break below targets 184.30

Major support is around 184.30 and break below will drag the pair further down 183.40/183.

It is good to sell on rallies around 185.85-90 with SL around 187 for the TP of 184.30/183.80
DerekUweri71
a year ago
Nice work.
I think i know the answer but I would like to get your comments . Shouldn't the AB leg on a BAT be 0.382-0.5 of the XA. You have 0.337, pretty close but where does one draw the line?
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