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tntsunrise
May 27, 2016 6:58 AM

GBPJPY Short based on Bat Pattern and RSI divergence Short

British Pound/Japanese YenFXCM

Description

GBPJPY Short based on Bat Pattern
and RSI divergence
Idea level is at 161.87
After I saw the RSI divergence
and price form Two Bearish Pin bar tested the 161.80 again
I shorted at 161.50
TP1: 159.11
TP2: 157.05

Comment

Trade Closed. after it droped to 160.40, close half position to lock 100 pips profit.
Balance position SL to Break even
this morning the B.E. SL is hit and exit

Trade closed manually

Comments
FXMONA
Great analysis.. but may be the best trade after breakout & retest daily triangle :)
mlbo
a valid idea too i think but different idea. yours is a long idea and he published the short.
mlbo
i will consider a buy, too based on a 4H chart breakout of the little descending 4H downtrend. or as you said a breakout of the bigger structure.
UnknownUnicorn380940
hey tnt,

I know you closed the trade but, kindly update please!
tntsunrise
UnknownUnicorn380940
thank you so much! but targets same? or changed due to higher wing of bat?
tntsunrise
use the sturcture to select your TP
AdemirPereiraDaSilva
Stop loss ??
AdemirPereiraDaSilva
No Stop Loss ??
Sababa
thank you Jack for your detailed explanation.
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