timmynorin

EURJPY Patterns forming 15min/60min

FX:EURJPY   Euro / Japanese Yen
1. Bearish bat formation which turned out a winner, but not before putting up a fight.
I entered this one since we also had a previously tested support and resistance area.

2. If the marked decides to push the price down we could see a complete bat formation . Although Im not too happy about the bullish trendline being violated, which itself is a bearish signal. Not an optimal scenario for a bullish bat . However, patterns are patterns. Its up to you and your plan to decide whether or not to take this one.

3. Lovely, both bearish cypher and gartley completing at (almost) exact same level.
We also have bearish trendline as resistance previous structure as resistance.

Alternative.
Price action violates C-leg of #2 bat before plumming down, which leaves neither #3 completion or #2 completion.

Since #1 won I'm happy either way, but lets prepare ourselves just in case the race is on!
Trade active: #2 bullish bat order cancelled

#3 cypher & gartley order filled
Trade closed: target reached: #3 cypher & gartley - target reached.