Next week: Bat Pattern GBPJPY?
A bat pattern could be forming at GBPJPY maybe next week. Point D lies within a minor S&R zone between two major S&R zones. First target is also at a minor S&R. Target 2 is at 50% retracement of A->D as there is a major S&R zone, and for me it's not of a high probability that a target at the A->D .618 retracement is reached (risky).
Entry: 142.660
S/L: 140.288
T1: 146.447 (RR 1:1.6)
T2: 147.705 (RR 1:2.13)
If both targets are reached and you put on your trade 50/50, the overall RR is 1:1.86.
Entry: 142.660
S/L: 140.288
T1: 146.447 (RR 1:1.6)
T2: 147.705 (RR 1:2.13)
If both targets are reached and you put on your trade 50/50, the overall RR is 1:1.86.
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