Looking for a Bat Pattern completion here on EUR/JPY. The 1.618 extension and the completion of the Bat come in at the previous major support trend line (RED) which gives us added confidence and a high probability that this might be a level where the market reverses back to the downside.
Stopl Loss goes above the Reversal Zone (RED) to give the market some breathing room
Targets: You can play this as a 2 target trade or just a regular pullback or you could use the Bat completion as a reason to enter and look for a trend continuation to the downside.
Stopl Loss goes above the Reversal Zone (RED) to give the market some breathing room
Targets: You can play this as a 2 target trade or just a regular pullback or you could use the Bat completion as a reason to enter and look for a trend continuation to the downside.