GBPJPY - Bat - D - ratios, ratios and ratios...

2014年5月12日

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