Bearish Bat Pattern Opportunity @ AUDJPY
A bat just completed at AUDJPY. The already stalled above the PRZ right after the terminal bar -- which turns this pattern to a potential trade.
Wait for the price to stall and RSI to come out of the overbought area for a type 1 entry. Once RSI turns down and is >= 70, entering the market is permitted.
Be sure to enter above 88.779 to maintain a RR of at least 1:1 for profit target 1. At TP1 close half of your position and aim for TP2. At TP2 close the rest. This is a counter trend trade at a major S&R zone.
SL goes around 89.255. If price action exceeds 89.384, the pattern is invalid.
Good luck.
Wait for the price to stall and RSI to come out of the overbought area for a type 1 entry. Once RSI turns down and is >= 70, entering the market is permitted.
Be sure to enter above 88.779 to maintain a RR of at least 1:1 for profit target 1. At TP1 close half of your position and aim for TP2. At TP2 close the rest. This is a counter trend trade at a major S&R zone.
SL goes around 89.255. If price action exceeds 89.384, the pattern is invalid.
Good luck.
Trade active:
Entered @ 88.847 per limit order.
SL: 89.256
TP1: 88.307
TP2: 87.886
SL: 89.256
TP1: 88.307
TP2: 87.886
Trade closed manually:
After price action broke the 45° trend line, I've manually covered my position for a smaller profit.
