Bearish Bat Potential Entry on AUDJPY

Apr 11, 2016

AUDJPY has been moving down on the larger time frames. Here we have a potential bearish bat pattern that could provide a good entry for getting in on the larger trade. Entry at 83.40. Stops above X at 83.85. Target 1 at 82.50 (.382 retrace), and Target 2 at 82.05 (which is slightly above the .618 retracement).

Apr 11, 2016

Note

Higher time frame analysis included below.

Apr 12, 2016

Note

Approaching potential reversal zone

Apr 12, 2016

Trade active

Apr 13, 2016

Trade closed: stop reached