EUR.JPY - Bullish Bat Setup - 120.313
Updated
On the EUR.JPY 1hr chart we have a potential long opportunity's at the D leg completion of bullish Bat setup.
The price reversal zone on this pair is between 120.313 & 120.015
The PRZ zone is only a guideline of where we will be paying attention for trade setups and opportunity's.
Potential targets for the Bat setup placed at the .382% and .618% retracement of the A to D move.
There is also an opportunity to look for extended targets at 122.500
Stop loss would be placed below X leg structure support .
Target 1 - 121.30
Target 2 - 121.88
The price reversal zone on this pair is between 120.313 & 120.015
The PRZ zone is only a guideline of where we will be paying attention for trade setups and opportunity's.
Potential targets for the Bat setup placed at the .382% and .618% retracement of the A to D move.
There is also an opportunity to look for extended targets at 122.500
Stop loss would be placed below X leg structure support .
Target 1 - 121.30
Target 2 - 121.88
Note
Note
I am expecting a push lower on this pair in the next couple of hours as price approaches resistance and 1hr EMA.Note
Note
How to trade the Bat setup.
Note
Price broke out of the consolidation and approaching D leg completion.Note
Please note, this setup is still valid until price breaks the C leg.Note
D leg completion at 120.313Note
No position taken on this pair.The setup is now invalid.
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