Bearish bat pattern @ USDJPY, 60
There is a potential bat pattern at USDJPY in the 60 minutes chart. If price clears full PRZ, watch if PRZ is respected by the market and check for RSI overbought confluence.
If PRZ is fully touched, RSI is overbought and then falls below 70 within 5-6 candles, enter the market. Ensure to enter above 111.624 to maintain at least a RR of 1:1 on TP1.
Max SL will go to 112.139, SL might be different when entering: I evaluate the correct SL right before entering the market.
If price action exceeds Max SL @ 112.139, the pattern turns invalid.
If PRZ is fully touched, RSI is overbought and then falls below 70 within 5-6 candles, enter the market. Ensure to enter above 111.624 to maintain at least a RR of 1:1 on TP1.
Max SL will go to 112.139, SL might be different when entering: I evaluate the correct SL right before entering the market.
If price action exceeds Max SL @ 112.139, the pattern turns invalid.
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