Oztrade
Short

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

FX:EURJPY   Euro Fx/Japanese Yen
93 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
Patterns Are invalid after the NFP
Reply
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
Great setup oztrade
would like to know your views on this trade, same pair
Eurjpy long setup
Reply
Oztrade AkashGaur
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.
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