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joelduque

2018Nov12 USDJPY H4 Bearish Bat

Short
U.S. Dollar / Japanese Yen (FX:USDJPY)  
joelduque  
FX:USDJPY   U.S. Dollar / Japanese Yen
Harmonic Patterns Bat Fibonacci
4
0
harmonicpatterns batpattern fibonacci
USDJPY has been on an uptrend and completed a bearish bat. On H4 timeframe, an RSI bearish divergence is seen. Upon confirmation of the bearish bias, I will go short. Stop loss is just above the X point. The take profit target is set at the 61.8 Fibonacci retracement level of the AD leg. Trade details are as follows:

Trade Setup: Bearish Bat
Price Entry 114.188
SL 114.600 | SL pips 41.2
TP2 112.467 | TP2 pips 172.1
RRR2 4.18
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