FIBSII

Bat Pattern

Short
FX:EURJPY   Euro / Japanese Yen
Hey all,

Here we have a Bat Pattern on EURJPY getting pretty close to completion. I've drawn in the 2 target levels I would be looking to take profits being the 38.6 and the 61.8 fib retracement levels. I'm using a 113% stop on this and it's giving a great risk reward as can be seen - which is usually the case for Bat patterns.

We have already pushed above the B leg high so I would be expecting this pattern to complete today.

Will be paying attention,
Comment: Bat pattern complete and entered the position!
Comment: Stopped out with what looks like a news event!