EURJPY Daily Butterfly and Bat.

15 Haz 2019

So before I enter a trade I like to have multiple indicators pointing to the same thing which is why you see a butterfly in dark blue and a Bat in light blue both with converging PRZ's. I usually only trade 2 targets on daily Harmonic Patterns with a very common result of only T1 being hit. I prefer to keep my stops short since I can always reenter the trade when conditions return to favorable instead of eating further and further loss, the way I see it is if it goes 50 pips below my SL then I can always reenter 50 pips away but if I have a huge SL to cover that then I'm missing out on the extra 50 pips profit.