On the GBP.JPY 15min chart we have a potential short opportunity at the D leg completion of bearish Bat setup.
The price reversal zone on this pair is between 144.959 & 145.171 The PRZ zone is only a guideline of where we will be paying attention for trade setups and opportunity's.
Potential targets for the Bat setup placed at the .382% and .618% retracement of the C to D move. There is also opportunity to look for extended targets at around 143.242 Stop loss would be placed above X leg structure resistance.
Target 1 - 144.177 Target 2 - 143.726
Komen
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PLEASE NOTE: I get a number of PM's asking if i use a robot. All potential setups are drawn manually on TradingView as opposed to and recognition software / robot. This does require more time, however it's also the difference between a losing / breakeven trader and a profitable trader.
chart is good but sell still not yet confirmed,it will drop few pips because of usdjpy,but gbpusd will now allow to fall more,not sure baout the idea,we can decide once markets open
UnknownUnicorn180388
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@fxmil, That's it, positions must meet the criteria prior to any entry or pending order.
@tomhall, I entered sell trade at 143.97 What You think about GBP/JPY ..? Is That market going Down ?
UnknownUnicorn180388
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@PasinduRashmika, You may have entered far too late on this trade as it had already hit target 2 by the time to executed the position.
I will be running through my analysis in the next hour or so.