2018Jun08 CADJPY H4 Possible Bearish Bat

There is a possible bearish bat for CADJPY. Upon D completion at 86.636 (88.6 of XA) and confirmation of the bearish bias, I will go short. Stop loss is just above point X. The take profit targets are set at the 38.2 and 61.8 Fibonacci retracement levels of leg AD and point A. Tentative details are as follows:

Trade Setup: Possible Bearish Bat
Price Entry 86.636
SL 87.154 | SL pips 51.8
TP1 85.246 | TP1 pips 139.0
TP2 84.388 | TP2 pips 224.8
TP3 82.998 | TP3 pips 363.8
RRR1 2.68 | RRR2 4.34 | RRR3 7.02

Order cancelled:

This setup is invalidated with the formation of a new swing low.