AUDJPY - ALT BAT PATTERN H4 ( SHORT)

Aug 10, 2017

So the pullback was at 38.2% fib retracement level and price failed to break the A point. what came to mind was a pattern called Alt Bat pattern So i had to short after the double topping, and then set my D point fib extension 113%. I am happy so far with the progress of his trade. I missed my second entry opportunity though after the price broke the B point. So the price broke the B point and did a retest to go short. but nevertheless, I am happy with the progress. :) I have already set my take profits levels after the price completes the Alt Bat pattern. so I'll be looking to go long. but i don't think the price is going move up to 61.8% ratio. Maybe I will just take profit at 38.2% fib ratio, and the then catch a short trend continuation opportunity.

Enjoy :)