THE YEN DOES A BAT PATTERN SWING?! | EURJPY

We recently closed our last trade on this pair with 150pips profit (see link below for reference purposes) and it appears price is stalling for a correction move. See plan below


Tendency: Temporary Downtrend ( Bearish )
Structure: Harmonic | BAT
Observation: i. There is a price drop via XA leg.
ii. B retraces 0.5 of XA leg.
iii. BC retraces 0.618 of AB.
iv. CD is a 1.618 approximate extension of AB.
v. D is at a 0.886 retracement of XA leg.
vi. Price below Moving Averages on lower time frames.
Trading Plan: SELL with a potential TP1 and TP2 with 290pips and SL @ 124.000/125.000 zone.
Risk/Reward: 1/1.8
Potential Duration: 7 to 15 days

** Please note that Stop Loss is subject to individual risk appetite per trade and account size.



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