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EURJPY Bearish Bat Pattern Formation and Short Setup TP2 Reached 110 Pips

EURJPY Bearish Bat Pattern Formation and Short Setup

Description: Chartreaderpro found a potential Bearish Bat Harmonic Pattern formation on H4 Chart Timeframe. A potential bearish correction is predicted at D.

Trade Period: Intraday Trading

Pair / Instrument: EURJPY

Time Frame: H4

The trend in the Timeframe: Bullish

The trend in the Daily Chart:  Bullish

Trade Based On: The Bearish Bat Pattern

Accuracy: %86

Recommended Lot Size: 0.05@ 10 K Account with 1:100 Leverage

Trade:  Short

The Area Of The Entry: 129.750 – 129.900

Stop Loss: 130.350

Target 1: 129.350 / TP 1 Reached

Target 2: 128.800 / TP2 Reached

Target 3: 

You can follow the setup: EURJPY Bearish Bat Pattern

What to pay attention: If the setup does not work and get stop out, we look for a short opportunity at Fibonacci 1.13 extension of XA 130.555- 130.600 targeting 130.000 and 129.800.

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Rules To Keep In Your Mind:  Trade Safe. Money  Management is the key to success in forex trading. Do not risk more than 1% of your account in each trade.

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DISCLAIMER: This is a technical analysis study, not an advice or recommendation to invest money

EURJPY Bearish Bat Pattern: Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. Chartreaderpro does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.

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