So, today I have faced very interesting formation on
EURJPY
We have two very good different opportunities right now.
1. First one is structure based long setup, price could come to previous structure support and retest is once more and make a little correction up. The retest is @ 50.0 fibs of XA leg. Since the correction we should be waiting for the price downfall untill the Bat pattern completion zone.
2. The second one is the bat pattern, completion @127.82. On this type of setup price wont do any retest and break the support and finish the bat. I want to mention here that after the breakout price could retest the structure resist and then fall down to finish the bat.
We have very nice R/R for this type of setup.
1. For target 1 it is 1.7
2. For target 2 it is 2.5
In conclusion it is very nice setup for long term traders to look for.
With you a good trading day.
EURJPY
We have two very good different opportunities right now.
1. First one is structure based long setup, price could come to previous structure support and retest is once more and make a little correction up. The retest is @ 50.0 fibs of XA leg. Since the correction we should be waiting for the price downfall untill the Bat pattern completion zone.
2. The second one is the bat pattern, completion @127.82. On this type of setup price wont do any retest and break the support and finish the bat. I want to mention here that after the breakout price could retest the structure resist and then fall down to finish the bat.
We have very nice R/R for this type of setup.
1. For target 1 it is 1.7
2. For target 2 it is 2.5
In conclusion it is very nice setup for long term traders to look for.
With you a good trading day.
