"EUR.JPY - BULLISH BAT SETUP - 115.122" by trader TomHall — published November 12, 2016

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Long

Euro / Japanese Yen (FX:EURJPY)

FX:EURJPY Euro / Japanese Yen

ukforexsignals LONG buy Bullish Patterns Harmonic Patterns xabcd EURJPY AB=CD

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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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.

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.