Bearish Bat pattern on CADJPY 4 hour

٥ سبتمبر ٢٠١٦

Bearish bat has formed and price has entered the PRZ but the entire zone has yet to be tested especially the critical 88.6 XA. I'll wait for price to reach this level and look at what price does after this before considering entering into this trade. Ideally I would lke to see some sort of reversal signal after testing the 88.6 XA.
Im gonna watch this one..

٧ سبتمبر ٢٠١٦

تم فتح الصفقة

As anticipated price action has reversed beautifully after hitting the 88.6 level and has hit target 1. Stops should be moved to break even at this point and let the trade run. Hopefully target 2 will be hit for a nice win. I split my order into 2 positions and close half of my position upon reaching target 1, this way I have banked some pips :)

١٢ سبتمبر ٢٠١٦

تم فتح الصفقة

Target 1 has been hit :) Stops have been moved to break even and half of my position has been closed. Price is not too far off from hitting target 2.

١٢ سبتمبر ٢٠١٦

أغلقت الصفقة: تم الوصول للهدف

Target 2 has been reached. Closed for a nice profit :)