A Bearish Bat is forming on the EUR/JPY custom timeframe chart (18hr). I'm expecting price to push through 172.00 and possibly through 173.00 before reversing. I've put in a few limit orders. If price sharply reverses I'm just going to short the market.
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Too early to tell. We'll have to see if the bears stick the landing, but the euro pushed right up through before reversing course right around the D point. Currently up +255 pips across three lots.Note
As I suspected, Bullish surge after that significant downtrend. I closed out two of the lots in profit and halved the last. I'm expecting continued upside pressure through the end of the day, then a strong bearish reversal on the Daily tomorrow. Alternatively, if bulls manage to push up through the most recent high at 173.02 I'll be looking for the D-wing of the Bat to push up to 174.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.