bmck1
Long

Couple of potential long opportunities on the GBPJPY H4 chart

FOREXCOM:GBPJPY   British Pound / Japanese Yen
There could be a couple of potential entries if you were wanting to get long GBPJPY over the coming days. The first over on the left hand side is an advance fib pattern in the form of a bullish Bat pattern completing around the 149 even handle (just below it). It also looks like an equal measured move ( AB=CD ) is being traced out from the A point of the pattern down to the potential entry level.

On the right hand side, we have a potential fib inversion trade, again looking for a bit of an upside move on form the beast. Price action will need to get down towards the 149.35 area if this trade were to be filled, following which I'd be looking to take traditional targets on this one as well.

Lets see how the week continues and whether or not these will come into play or not. Food for thought for the moment.


Trade active: Filled on the Fib Inversion trade.
Trade active: Filled on the Bat pattern now as well.
Trade closed: stop reached: Fib inversion stopped out.
Trade closed: stop reached: Bat pattern stopped out.
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