Oztrade
Long

EURJPY - S/R TRADE - BULLISH BAT - ADVANCED PATTERN - H&S

FX:EURJPY   Euro Fx/Japanese Yen
72 0 4
Hi All, I wanted to share this early to give you enough time to perform your own analysis, with the previous Bearish Bat that I took and have second stop moved down after we reached Target 1 - here I am looking at a potential Stop Reverse trade if we can make it this far.

Keeping in mind C leg must not pass the A leg for this pattern to be invalid.

You can also actively manage your stop and limit if price falls towards our Target 2 on the Bearish Bat , remember to ensure to take your profit and dont be greedy, in this case I have analyzed this chart and it is in my rules that if I find a S/R trade that I can actively manage to increase reward.

As always Green is the Entry Zone - 88.6% BAT Entry

We also have a Major FIB EXT 1.618 - from A to B leg completing at the 88.6% level

Stops are @ Minimum Below this level of 1.113%

Targets as always - A to D Fib Retrace TP1 just below 38.2% and TP2 Just below 61.8%

Targets to be adjusted on D completion

If you also look at this chart for those who trade also possible Head and Shoulders

Good Luck and lets see if this plays out - and enjoy your weekend
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