Nico.Muselle
Short

CADJPY - Bearish Bat + Fib confluence + Structure

FX:CADJPY   Canadian Dollar/Japanese Yen
1202 10 32
9 months ago
Patterns galore it seems this weekend. Although this pattern is not at completion yet, we did already break above the B-point. We might see a retracement into that B-point level before rallying towards the completion of the pattern.

Around the completion level, we have previous structure/support (red dotted line) which could now act as resistance and we also have the 1.618 AB extension confluent to the 0.886 XA retracement.

TP1 is a nice 260 pips to the downside with a 1.35 RR ratio (stop loss is 195 pips away)
TP2 is good for 425 pips and a 2.2 RR ratio

Agree with this idea ? Thanks for giving me the thumbs up by clicking the like button.
Have another view, have questions, comments ? Feel free to share it below !
More ideas like this ? Click the follow button to keep updated when I publish new ideas or update already published ones.

PS : do check out my other ideas that are linked below ! :)


9 months ago
Comment: After some hesitation, the pair is moving in the right direction to complete this pattern so keep an eye on it. You can use an alert on your chart to warn you when the pattern is almost completed so you don't miss out.
arif_awan
9 months ago
Bearish Bat, short if completed!!!
+1 Reply
Nico.Muselle MOD arif_awan
9 months ago
Looking good ! Excellent. Good luck !
Reply
arif_awan Nico.Muselle
9 months ago
thank you.
+1 Reply
Nico.Muselle MOD arif_awan
9 months ago
Welcome !
Reply
nemo.vr11
9 months ago
I agree, I'm also looking for it since days
+1 Reply
Nico.Muselle MOD nemo.vr11
9 months ago
Thanks !
Reply
forexmech
9 months ago
Thanks Nico . This one should be a good trade.
+1 Reply
Nico.Muselle MOD forexmech
9 months ago
If you follow the plan, it's always a good trade, no matter the outcome ;)
Reply
forexmech Nico.Muselle
9 months ago
Agree :)
Reply
adilnaqvi00786
9 months ago
Absolutely looking for it..kindly give ur expert opinion for the perfect entry
Reply
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out