Potential Bat Pattern Setup at Major Resistance Level

Updated
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Trade Management

Pattern: Bat

Symbol: CADJPY

Date: Tuesday, 17th of November 2015

Timeframe: 60M

Entry-Point: 93.07 (Limit Order)

Stoploss: 93.30

Take-Profit 1: 97.57

Take-Profit 2: 97.27

Description: The CADJPY price action rallies again into previous resistance zone, which was reached on the 12th of October. Therefore we have a high probability trading idea. The stoploss rests right above the highest high of the previous resistance level.

Important: If price violates 91.77 price level, the trade will be invalid.
Trade active
Target 1 is hit. Stoploss goes to breakeven for Target 2 to hit.
BatBearish Bat

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