2018May08 GBPJPY H4 Bullish Bat
There is a bullish bat, a trend continuation pattern, for GBPJPY. Price entry at 147.726 is guided by a candle breaking and closing above the resistance of the diagonal channel. Stop loss is just below point X while take profit targets are at the 38.2 and 61.8 Fibonacci retracement of leg AD and point A. I plan to manually cancel this order if price goes to TP1 before getting triggered.
Trade Setup: Bullish Bat
Price Entry 147.726
SL 146.160 | SL pips 156.6
TP1 149.647 | TP1 pips 192.1
TP2 151.251 | TP2 pips 352.5
TP3 153.848 | TP3 pips 612.2
RRR1 1.23 | RRR2 2.25 | RRR3 3.91
Trade Setup: Bullish Bat
Price Entry 147.726
SL 146.160 | SL pips 156.6
TP1 149.647 | TP1 pips 192.1
TP2 151.251 | TP2 pips 352.5
TP3 153.848 | TP3 pips 612.2
RRR1 1.23 | RRR2 2.25 | RRR3 3.91
Note
TP1 hit! (May 17)
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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.