2018Nov28 USDJPY H4 Possible Bearish Bat
USDJPY is in a recent uptrend and near completion of a bearish bat around a trendline resistance. There is an RSI divergence seen. Upon pattern completion and confirmation of the bearish bias, I will go short. Stop loss is just above the X point. The take profit target is set at the 61.8 Fibonacci retracement level of the AD leg. Tentative details are as follows:
Trade Setup: Possible Bearish Bat
Price Entry 114.013
SL 114.283 | SL pips 27.0
TP2 112.957 | TP2 pips 105.6
RRR2 3.91
Trade Setup: Possible Bearish Bat
Price Entry 114.013
SL 114.283 | SL pips 27.0
TP2 112.957 | TP2 pips 105.6
RRR2 3.91
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.