GBP/JPY Short opportunity and possible Bat pattern
First be identify which was the best place to go short, we found ABCD pattern completion just at resistance plus a 1.272 extension just at the market, giving reasons to look for bearish opportunities. And we get that with a Double top with an oversold condition and bearish divergence just at that zone.
Stops just above the DT, 1st target at the most recent low and the 2nd one in that key support level.
Double*
Stops just above the DT, 1st target at the most recent low and the 2nd one in that key support level.
Double*
Trade active
First target was hit. Stops will stay in the same place until the 185.24 level is broken.Trade closed: target reached
Second target hit.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.