EUR.JPY - BULLISH BAT SETUP - 115.122 — Euro Fx/Japanese Yen (FX:EURJPY) / 2016-11-12 — TomHall

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Long

Euro Fx/Japanese Yen (FX:EURJPY)

FX:EURJPY Euro Fx/Japanese Yen

ukforexsignals long buy bullish harmonicpatterns xabcd eurjpy abcdpattern

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

The price reversal zone on this pair is between 115.122 & 114.956
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 A to D move.
There is also opportunity to look for extended targets at 116.321
Stop loss would be placed below X leg structure support .

Target 1 - 115.677
Target 2 - 116.037

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good look. structure lacking imho though

CajunXChange

@CajunXChange, The D leg completion is only an area of interest, we will have to see how market reacts if / when price reaches our potential reversal level.

TomHall

@TomHall, agree with whole setup. just from my minimal experience, structure usually determines whether the pattern will hold or not with harmonics

CajunXChange

@CajunXChange, For me personally structure only plays a minimal part in my entry rules, there are a number of different indicators and criteria's that must be met prior to entry.

extension structures such as crabs, cyphers, and sharks have more leverage in structure. In other words, sloppy structure doesn't 'matter all the time.
again these are just my observations...only because I mostly use harmonics

CajunXChange

@CajunXChange, Like I always say, with the market in general being very subjective aslong as a trader has an edge over the market that is all that matters.
Have a great week.

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