USDJPY - Bearish Bat Completion

I see a bat completing on USDJPY.

Pattern identification

USDJPY Bearish Bat at 111.20.

Trade Execution

Will initiate sell at market now 111.14.

SL will be at 111.40 (24)

TP will be at 110.55, the 0.618 Fib retracement of AD (59)

Dagangan ditutup: hentian tercapai:

Got too greedy on this.

AD Fib 38.2% is the 1st profit target, we should always secure some profits at this level for Bat pattern.

Instead of a 35 pips profit, I ended up with a 25 pips loss.

Another lesson learnt for the week.