Roker1

Two Harmonic Patterns at market on GBPJPY

Long
FX:GBPJPY   British Pound / Japanese Yen
Hi guys,
i've been watching this pair for quite a while, price has finally reached the daily structure i wanted to. Here we have two harmonic patterns already completed (Bat and Gartley ) and price has formed a nice double bottom with RSI divergence.
The first way you can trade it is by buying right now, with stops below the lows and targets at a minimum 1,25:1 RR.
The second way is by waiting to see a break of the trendline, that would also mean a break of the double bottom to the upside (and then a 2618 strategy), and buying at the first retracement.
That second way would be safer but you can also miss this trade.
Now it's up to you.

If you want to share your view, comment beneath.
Otherwise, see you in the next chart!
Se sei d'accordo, lascia un mi piace! Grazie
Canale Italiano: https://www.youtube.com/c/MisterForexIT
Ultimo video: https://youtu.be/0rIFF-j4kdM

If you agree, like this chart! Thanks
My last (english) videoanalysis here: https://youtu.be/RUySg8LW6Iw

Comments

Hello, what is your timeframe ? 1h or 4h, or 2h or 1d, etc.? Thanks
+1 Reply
Roker1 Tony_Dong
Hi @Tony_Dong, this is the 4hr chart.
Reply
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