2018Oct10 AUDJPY H1 Bearish Bat

AUDJPY has been on a downtrend and a bearish bat has been completed. As I am expecting this to continue and with confirmation of the bearish bias, I will short at 80.570. Stop loss is just above X point while the take profit target is at the 61.8 Fibonacci retracement level of AD leg. Trade details are as follows:

Trade Setup: Bearish Bat
Price Entry 80.570
SL 80.725 | SL pips 15.5
TP1 80.068 | TP1 pips 50.2
RRR1 3.24