USDJPY: Bullish Bat Pattern Completion at Key Support

Bullish bat pattern completion at a key support level (the lower parallel of the median line).

Entry: At current level
Stoploss: 107.100
Profit: 114.000

Trading advanced patterns in the higher timeframes require a wide stoploss. In case you cannot go with such stop, switch to the lower timeframes and watch for a smaller setup completion. Below you may see a reversed head n shoulders. Buying the breakout of the neckline and placing your stop below the head will give you a tremendous risk/reward setup, worth taking.

All the best
John

Komentar:

Price broke above the H&S neckline. We may buy now..!

Komentar:

Already 200 pips booked since the completion of the pattern, but still a good way to go. Price has broken above the short term downtrend and sooner or later it's going to correct. In such case look to add to your already green position and make this pattern a massive boost to your account. No need to mention that we should have already moved our SL at BE. Stay updatd as very soon I will post a trail level to secure most of current's profit