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Short

Potential Bat Pattern Setup at Major Resistance Level

FX:CADJPY   Canadian Dollar/Japanese Yen
Learn to Trade Harmonic Patterns at http://www.plantotrade.com

Trade Management

Pattern: Bat

Symbol: CADJPY            

Date: Tuesday, 17th of November 2015

Timeframe: 60M

Entry-Point: 93.07 (Limit Order)

Stoploss: 93.30

Take-Profit 1: 97.57

Take-Profit 2: 97.27

Description: The CADJPY             price action rallies again into previous resistance zone , which was reached on the 12th of October. Therefore we have a high probability trading idea. The stoploss rests right above the highest high of the previous resistance level .

Important: If price violates 91.77 price level, the trade will be invalid.
Trade active: Target 1 is hit. Stoploss goes to breakeven for Target 2 to hit.
Target 1 is hit. Stoploss goes to breakeven for Target 2 to hit.
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