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