Long GBPJPY: Alternate Bat at Trendline Support

Panjang

Paun British / Yen Jepun (FX:GBPJPY)

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FX:GBPJPY Paun British / Yen Jepun

alternatebat batpattern harmonicpatterns rsi_divergence rsi_oversold divergence breakout retest prz confluence gbpjpy glennmercer gmercerfx pivot pivotpoints missedpivots unhitpivots

GBPJPY has completed a bullish bat at strong trendline support. This allows for a 5:1 R/R because a break and close below the trendline nullifies the trade. In addition to the pattern completion, there was a strong breakout from a 1D trendline that may potentially be retested. A missed pivot cluster may add to the bullish bias. We also have bullish RSI divergence printed, which is also oversold. Entry at current levels with SL below structure lows and target at the .382 retracement of the CD leg. The target is confluent with the missed pivot cluster.

Confluence in the PRZ:

Bullish alternate bat pattern complete
Strong daily trendline support
Missed pivot cluster at .382CD retracement
Bullish RSI divergence
RSI Oversold
Possible retest of breakout line

Komen:

Larger TF (Daily) Chart:

Dagangan ditutup secara manual:

I'm closing this trade manually at breakeven. 4H Candle closed below trendline and is now retesting:

Idea Berkaitan

about EURCAD

about GBPCAD 3

about EURUSD 7

about CADJPY 8

about AUDCAD 2

Penafian

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