Bat pattern on USDJPY
Updated
Hey guys,
i want to share a nice opportunity that could complete in few hours. It is a Bat formation and its completion comes right near an important 4hr structure (blue line), on the daily we recently broke below a support level and this represents a test also of that level.
Please note it would not be a valid pattern taking the fibs from the very high, but i decided to use that X because stops would anyway be safe above that high with my stop loss position. If you want to take this pattern make sure your stop is above 115,60s.
Targets as usual at .382 and .618 retracements of AD leg.
Good luck!
If you want to ask questions or share your standpoint, feel free to write below.
Otherwise, see you in the next chart!
i want to share a nice opportunity that could complete in few hours. It is a Bat formation and its completion comes right near an important 4hr structure (blue line), on the daily we recently broke below a support level and this represents a test also of that level.
Please note it would not be a valid pattern taking the fibs from the very high, but i decided to use that X because stops would anyway be safe above that high with my stop loss position. If you want to take this pattern make sure your stop is above 115,60s.
Targets as usual at .382 and .618 retracements of AD leg.
Good luck!
If you want to ask questions or share your standpoint, feel free to write below.
Otherwise, see you in the next chart!
Trade active
Trade closed: target reached
First target hit! Stop at break evenTrade closed: target reached
Second target hit! +250 pipsDisclaimer
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