GBPJPY Bearish Bat forming
A close above the structure high will significantly give us a chance to go long and target to the D1 Supply area. We could see potential reversal around the PRZ level which are the horizontal lines. Sell limits can be placed @187.335 and target to 184.86.
This method is known as the RSI+BAMM method. You could see the initial X point has RSI OS area and for further confirmation we need to hit RSI OS again when the price hits one of the red lines and then look for terminal bar. We need a close below to confirm the bearish move.
This method is known as the RSI+BAMM method. You could see the initial X point has RSI OS area and for further confirmation we need to hit RSI OS again when the price hits one of the red lines and then look for terminal bar. We need a close below to confirm the bearish move.
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