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Highly Probable Sell signal
here is the probable Bat pattern in USD/JPY(H4).according to the pattern i estimated the price reversal zone(sell entry) and stop loss.
in this case the price is in the reversal zone so we should wait for Confirmation.as pesavento or carney mentioned in their books there is two strong confirmation:
1-CandleStick Bearish Pattern(Hammer,Engulfild,Doji,...)
2-the price stock in the reversal zone(the zone is the resistance zone for the price)
!!for mor conservative trades Stochastin(8,3,3) Confirnation can be used too.
if the pattern does not fail then the first target would be 115.4(.618CD)
TP1=.618CD=115.40
TP2=.618AD=114.98
As far as i know??????!!!!!!!
please test it
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