EURJPY UPDATE WITH EXPLINATIONS
Let me first say I appologize for my post this morning. I was trying to get it out befor it completed and I ended up drawing it wrong. I also didnt break down my thought process. Here is what I was looking @
What I was looking for was a reversal that I have marked in blue.
The market then gives me a higher high higher close labled HHHC
Price then retraces to the 50% of X to A giving me my B point from my B point price retraces and touches the 382 of my A to B point giving me my C point. Once price moves lower than B it becomes my D leg in this perticular trade I get a complex D leg.
I base everything off of the first fib levels that get hit. Now I dont always use a 382 fib on the bat however per my rules I can in this perticular trade. Why? Because of STRUCTURE.
I hope this clears everything up to why I took this trade based off of a Bat
This is just my analysis and we all see things differently and we all have different rules. TRADE WHAT YOU SEE! :)
What I was looking for was a reversal that I have marked in blue.
The market then gives me a higher high higher close labled HHHC
Price then retraces to the 50% of X to A giving me my B point from my B point price retraces and touches the 382 of my A to B point giving me my C point. Once price moves lower than B it becomes my D leg in this perticular trade I get a complex D leg.
I base everything off of the first fib levels that get hit. Now I dont always use a 382 fib on the bat however per my rules I can in this perticular trade. Why? Because of STRUCTURE.
I hope this clears everything up to why I took this trade based off of a Bat
This is just my analysis and we all see things differently and we all have different rules. TRADE WHAT YOU SEE! :)
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