GBPJPY - Bat - D - ratios, ratios and ratios...
Hey traders !
Bat pattern may complete after hitting C point at previous structure support 173.04. It would come to D point at 170.00.
I have a ton of ratios matching in at that position (i have drawn two previous trend lines in dotted black lines) FG retracement has 0.382 on D and HI retracement has 0.618 on D. Also we got ratio confluence on D with XA 0.886 retracement and AB 1.618 extension. Hopefully RSi will lead the way with an oversold :)
Here are the entry, stop and target for the optimistic trades (since i don't know it will complete).
Entry at D point 170.06, stop loss at previous structure and bellow X, maybe 168.77. Target one is at CD 0.382 retracement (171.07) and target 2 is at CD 0.618 retracement (171.79). Would be an awesome profit there...
Risk reward profile is 1 to 1 for target one and 2 to 1 for target two.
I am currently making a website where i'll share all my ideas, explanation and analysis of the market,
Good luck and good trading !
alphabetacharlie
Bat pattern may complete after hitting C point at previous structure support 173.04. It would come to D point at 170.00.
I have a ton of ratios matching in at that position (i have drawn two previous trend lines in dotted black lines) FG retracement has 0.382 on D and HI retracement has 0.618 on D. Also we got ratio confluence on D with XA 0.886 retracement and AB 1.618 extension. Hopefully RSi will lead the way with an oversold :)
Here are the entry, stop and target for the optimistic trades (since i don't know it will complete).
Entry at D point 170.06, stop loss at previous structure and bellow X, maybe 168.77. Target one is at CD 0.382 retracement (171.07) and target 2 is at CD 0.618 retracement (171.79). Would be an awesome profit there...
Risk reward profile is 1 to 1 for target one and 2 to 1 for target two.
I am currently making a website where i'll share all my ideas, explanation and analysis of the market,
Good luck and good trading !
alphabetacharlie
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.