Bearish Bat Pattern Opportunity @ AUDJPY

17 Oca 2018

A bat just completed at AUDJPY. The already stalled above the PRZ right after the terminal bar -- which turns this pattern to a potential trade.

Wait for the price to stall and RSI to come out of the overbought area for a type 1 entry. Once RSI turns down and is >= 70, entering the market is permitted.

Be sure to enter above 88.779 to maintain a RR of at least 1:1 for profit target 1. At TP1 close half of your position and aim for TP2. At TP2 close the rest. This is a counter trend trade at a major S&R zone.

SL goes around 89.255. If price action exceeds 89.384, the pattern is invalid.

Good luck.

17 Oca 2018

İşlem aktif

Entered @ 88.847 per limit order.

SL: 89.256
TP1: 88.307
TP2: 87.886

18 Oca 2018

İşlem elle kapatılmış

After price action broke the 45° trend line, I've manually covered my position for a smaller profit.