sullaskeeZ

Bearish Bat pattern on CADJPY 4 hour

FX:CADJPY   Canadian Dollar / Japanese Yen
100 0 4
Bearish bat has formed and price has entered the PRZ but the entire zone has yet to be tested especially the critical 88.6 XA. I'll wait for price to reach this level and look at what price does after this before considering entering into this trade. Ideally I would lke to see some sort of reversal signal after testing the 88.6 XA.
Im gonna watch this one..
Trade active: As anticipated price action has reversed beautifully after hitting the 88.6 level and has hit target 1. Stops should be moved to break even at this point and let the trade run. Hopefully target 2 will be hit for a nice win. I split my order into 2 positions and close half of my position upon reaching target 1, this way I have banked some pips :)
Trade active: Target 1 has been hit :) Stops have been moved to break even and half of my position has been closed. Price is not too far off from hitting target 2.
Trade closed: target reached: Target 2 has been reached. Closed for a nice profit :)
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