AUD/JPY - Bullish Bat

19 Haz 2018

Hi guys, here's another one to add to the watch list! This time I'm eyeing ups potential bullish bat on the Aussie-Yen. The Yen has managed to gain some strength across the board already today, but with this pair in particular price has recently formed into a ranging environment on the 4 hour chart. With this in mind, I will be keeping an eye on the 4 hour chart specifically for a reversal signal.

As always risk should be minimum 1:2, but with pattern we should ideally be looking for 1:3.

Bat Ratios
B = 0.382-0.5
C = 0.382-0.886
D = 1.618-2.618
X to D = 0.886

19 Haz 2018

Not

As you can see below, the 4 hour chart is now at a level of support- a potentially key area for a long entry.