Oztrade
Short

EURJPY - 60M BEARISH BAT - BEARISH GARTLEY - ADVANCED PATTERNS

FX:EURJPY   Euro Fx/Japanese Yen
86 4 2
Hi All, I wanted to share this potential shorting opportunity for those who trade advanced patterns. With both of these patterns if we see the price push beyond the B legs we would anticipate a D completion, if you look at both of these patterns D completion - which is our entry point is right at the Previous Structure levels,

This should provide a good opportunity as we know Structure leaves clues.

As always Traders on screen for easy to read charts, color coded for you

  • Red Stops
    Green Entry
    Targets Color Coded
  • Bearish Bat Pattern: Blue
    Entry - Green @ 88.6%
    Initial Targets - 38.2% and 61.8% From our A to D move - Targets to be adjusted on D completion
    Stops - Minimum Level above X leg @ 1.113% Fib Ext - Second Stop to be moved at Break Even when Target 1 Is reached.

Bearish Gartley Pattern: Grey
Entry - Green @ Between 78.6% Fib Retrace and 1.272% Fib Ext
Initial Targets - 38.2% and 61.8% From our A to D move - Targets to be adjusted on D completion
Stops - Minimum Level above X leg @ 1.113% Fib Ext - Second Stop to be moved at Break Even when Target 1 Is reached.

Good luck traders
Great setup oztrade
would like to know your views on this trade, same pair
Eurjpy long setup
Reply
Oztrade Fxtoronto
a year ago
Hi Fxaks, Looks to be a Double Bottom, could be ok - if we push downwards my next buy signal is @ 127.776's normally with price action if we see a L3C or H3C depending on which way price is going usually indicates continuation in that direction after some form of retrace. The retest is a good sign for you though.
Reply
DerekUweri71
a year ago
Hi Oz, excellent analysis as usual.

Couple of questions.
1.Did you take into account the non farm payrolls?
2. D leg did not go beyond B, does that mean you didn't get filled?
Reply
Oztrade
a year ago
Patterns Are invalid after the NFP
Reply
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