lyl89
Long

EURJPY - Bullish Bat Completed on H4 Chart

OANDA:EURJPY   Euro Fx/Japanese Yen
  • Bat pattern has completed with price closing inside PRZ, also known as the terminal bar.
  • RSI very close to oversold level.
  • Good R:R at 2.4 (TP1) and 3.9 (TP2).
  • Price alerts on PRZ again to keep myself notified.
  • When market opens on Monday, I will be monitoring the next few candles before I enter.
Comment: Price has started to reverse.
However, it was slightly late when I saw the chart.
Traders may choose to enter long now at 118.84 as it not too far off PRZ.
Traders may choose to wait for price to get back to PRZ.
Do manage your lot size.
Trade closed: stop reached: Stopped out at 70 pips.
@lyl89, ,mind share your PRZ is XA 88.6 & others at which level?
Reply
lyl89 naiveme
@naiveme, prices are as follows:

- XA retracement @ 0.886 (118.770)
- BC extension @ 2.618 (118.754)
- 1.414 AB=CD (118.686)
+1 Reply
naiveme lyl89
@lyl89, nice thks for sharing :)
Reply
lyl89 naiveme
@naiveme, no worries, trade live soon ya :)
Reply
naiveme lyl89
@lyl89, hopefully. Btw, 1.414 AB=CD I can do on MT4 with fibonacci expansion, but I can't find on tradingview.
Did you have any idea?
Reply
lyl89 naiveme
@naiveme, It's called "Trend-Based Fib Extension" on TradingView.
Reply
naiveme lyl89
@lyl89, cool I get it. TQ
Reply
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