SamRavdandorj
Short

Already completed Bat formation on USDJPY,60 min chart

FX:USDJPY   U.S. Dollar / Japanese Yen
Hi guys,
We have a bearish bat formation on hourly chart, which is already triggered and tested PRZ half way.
And also this zone is previous support/resistant structure.

This one can be good trade with risk reward around 1.5 at the first target 38% FIB lvl even when you place stop loss 10 pips above the whole PRZ, you can aim for target 2 at 61% and so on.

If you are not on this trade yet, there is still time to get on the train when market opens on monday!

Good Luck
Sam
Jan 30
Trade closed: target reached: target 1 reached! lets see if we can hit target 2
Jan 31
Trade closed: target reached: Target 2 reached as well! perfect!
Hi mate, nice work! What stop loss do you suggest?
Reply
@mdavo79, mostly i put stops above X leg, but in this case i put stops above previous resistance zone. Good luck mate!
Reply
mdavo79 SamRavdandorj
@SamRavdandorj, Thanks for coming back to me Sam. Appreciated. Brilliant analysis by the way. I'll definitely look out for yours in future!
Reply
@mdavo79, thank you!!! Wish u best
Reply
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