USDJPY - POTENTIAL BAT PATTERN OPPORTUNITY - 1H ADVANCED PATTERN
Hi Traders,
Just thought to get this one posted for those who trade this pair, advanced patterns and this time frame.
As always Entry level on Screen with a potential reversal zone.
Targets would be conventional 38.2% - 61.8% retrace of our CD Move - targets to be adjusted on D Completion or unless stops are hit first.
Stops always below X Level. And should be moved to break even if Target 1 is hit.
This pattern will be invalid if we break and close beyond the A Leg or if we violate the X Leg.
Make sure you follow your own rules and don't trade this unless its in your portfolio, always use your own rules of engagement.
Enjoy and happy trading.
Just thought to get this one posted for those who trade this pair, advanced patterns and this time frame.
As always Entry level on Screen with a potential reversal zone.
Targets would be conventional 38.2% - 61.8% retrace of our CD Move - targets to be adjusted on D Completion or unless stops are hit first.
Stops always below X Level. And should be moved to break even if Target 1 is hit.
This pattern will be invalid if we break and close beyond the A Leg or if we violate the X Leg.
Make sure you follow your own rules and don't trade this unless its in your portfolio, always use your own rules of engagement.
Enjoy and happy trading.
Comment:
Pattern is now invalid, make sure to actively mange trade based on price action.
Comment:
Make sure to adjust targets as the D completion is lower than entry. Keep an eye on price action on the structure level. In this return move. Stops rolled to BE at TP1