EURJPY Long: Bullish Bat PRZ Confluent with S/R

FX:EURJPY   Euro / Japanese Yen
EURJPY             has entered the PRZ of a bullish bat that is confluent with various other S/R elements. On the D1 time frame, a pitchfork aligns with with the .50 retracement of a larger XA leg. This area is confluent with the 1.786 projection of BC             and and the completion of an alternate AB=CD pattern. There's a secondary structure low below this level to add support. Target is placed at the . 382 retracement of CD which coincides precisely with the new pivot for this week. I am taking a conservative profit target at the . 382 retracement of CD because a daily support trendline will likely act as resistance on the way back up. SL is placed below S/R.

Confluence in the PRZ:
  • Bullish bat pattern completion
  • Pitchfork support
  • .5XA (D1)
  • Previous structure low
  • 1.786BC projection
  • 1.272AB=CD
  • Unhit weekly pivot above price

D1 Trendline , .5XA and Pitchfork Support:

Thank you for your support and motivation!
Trade closed: stop reached: SL has been reached
Trade active: I have re-entered this trade based on bullish price action. New R/R account for previous loss: 1.74. Target set at .5CD/Daily Pivot
Trade closed: stop reached: SL Reached
hey still pending or she hit the SL ?
Hi Hiisham trade is still active for now
Hiisham glennmercer
the price right is in 133,316 should we move the Sl a dow bit ?
I'm not a fan of moving my SL, this trade has been stopped out for me now. Depending on price action I may re-enter long at some time today.
Hiisham glennmercer
Thanks, Pleas Updtae ur charts to enter to ;)
+1 Reply
Will do, no problem!
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