Fxprotrader
Short

EURJPY@ AB=CD & Bat Pattern Completion

FX:EURJPY   Euro Fx/Japanese Yen
Price in EURJPY             is moving in a corrective structure in a rising channel . At the point where is testing its median line , price has formed two bearish harmonic patterns , an ab=cd and a bearish bat pattern.

A nice way to trade this setup is to place two trades. The one should aim for profit target at 0.618 of the CD wave of the bat pattern and the other one at 1.27 of the XA. If price reaches our first target we place our stoploss at breakeven at the the second position.
Trade closed: target reached: 1rst target reached
Move stoploss to breakeven at the second trade.
Trade closed manually: I decided to close manually my second position with a little more than 4 to 1 profit to my initial risk.
i'm sorry how is this a bat pattern? The fib doesn't match a bat pattern
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Fxprotrader argentgroup
Actually this is a perfect bat pattern
snapshot
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marcus123 Fxprotrader
Certainly worked!
+1 Reply
i short on 135.9
i think the target 133.4
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Still in on this. Thanks!
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Fxprotrader marcus123
You are welcomr marcus.
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Excellent!!
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Fxprotrader FullTimeTrader
Thank you mate..
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Looks good. great stuff!
+1 Reply
Fxprotrader Akil_Stokes
Thank you Akil for your comment.. I believe this setup has a lot of potential..
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