Art_of_Trading
Long

EURJPY: Trade Bat Pattern

FX:EURJPY   Euro / Japanese Yen
On FX:EURJPY             , the market is not trending and it gives an opportunity to advanced pattern traders. There is a support at 113.909, the market respected that price again and it is more likely that it will do again. We are all aware that big trades are placed at key levels like this support. Bat pattern appears on 1H chart and it gives the exact point where to enter and put our TP and SL. Also, it gives a nice Risk / Reward Ratio.

In this case, the price may bounce back to support and then continue going up or it may simply hit the profit targets.
T1 - 38.2%
T2 - 61.8%
PS. Draghi speaks today, and Euro             market may get more volatile.
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Comment: T1 hit, half of the profits are locked.
Comment: T2 Hit, nice profits
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