USDJPY - Long
Possible bullish bat pattern forming
Completion down at the 105.000 even handle
TP1 - 38.2 Retracement
TP2 - 61.8 Retracement
TP3* - Wherever u want it to be or just let the position run as long as possible.
Any questions feel free to drop a comment or a message and il be happy to help.
I want to point out to you a bat formation that is at market at a previous daily structure level, i usually don't like to trade against the trend but in some cases the major structure in higher timeframe allows me to trade this kind of setups.
Notice that we are also near to a even handle number (1,0300).
My levels are:
Entry: at market
Hi traders, today in my morning analysis i've spot this opportunity in AUDJPY. My analysis starts from higher timeframe. In this case we are sitting in a previous 4HR resistance that could become support. The trend is our friend and we want to hop on that as soon as it gives us a reason for entry.
So here we have a double bottom in 1HR with an engulfing candle...