EUR.JPY - BEARISH BAT SETUP @ MARKET - 117.397 Short

Euro Fx/Japanese YenFXCM

Description

⋅ Nov 18, 2016 7:04 AM

On the EUR.JPY 15min chart we have a potential short opportunity's at the D leg completion of bearish Bat setup.

The price reversal zone on this pair is between 117.397 & 117.476
The PRZ zone is only a guideline of where we will be paying attention for trade setups and opportunity's.

Potential targets for the Bat setup placed at the .382% and .618% retracement of the C to D move.
There is also opportunity to look for extended targets at around 116.454
Stop loss would be placed above X leg structure resistance.

Target 1 - 116.960
Target 2 - 116.686

Trade closed: target reached

⋅ Nov 18, 2016 8:03 PM

Comments

ForexForensic

⋅ Nov 18, 2016 2:35 PM

Very Nice

UnknownUnicorn180388

⋅ Nov 18, 2016 7:44 PM

@ForexForensic, Thank you!

PjMiz

⋅ Nov 18, 2016 8:09 AM

excellent setup, Tom. Took a quick 20 pips before bed here in the states. a good weekend to you, sir.

UnknownUnicorn180388

⋅ Nov 18, 2016 8:11 AM

@PjMiz, Great work, hope you have a good one also.

anfernees

⋅ Nov 18, 2016 8:09 AM

Nice catch up on 15m level.

UnknownUnicorn180388

⋅ Nov 18, 2016 8:10 AM

@anfernees, Let's see how things play out :-)

JavierFX15

⋅ Nov 18, 2016 7:12 AM

Seems afraid to leave the nest

UnknownUnicorn180388

⋅ Nov 18, 2016 7:17 AM

@JavierFX15, A simple retest at the moment, we have strong divergence on the RSI adding extra confluence.

JavierFX15

⋅ Nov 18, 2016 7:18 AM

@tomhall, I appreciate your work. Keep it up! I am learning from you guys

UnknownUnicorn180388

⋅ Nov 18, 2016 7:19 AM

@JavierFX15, Great to hear, have a good end to the week :-)