xerxeschongxian26

AUDJPY BEARISH BAT and BEARISH ABCD

Short
FX:AUDJPY   Australian Dollar / Japanese Yen
AUDJPY on a DOWNTREND here, identified 3 possible SHORT ENTRIES

Advanced Pattern

A possible BEARISH BAT PATTERN. ENTRY @89.26 (Purple line)

ABCD Pattern

Using XA as the impulse leg, i identified ENTRY ZONE 1, between the 71.8 and 61.8 RETRACEMENT OF XA. However, i do not feel that this entry zone will be hit, given that it has already been tested 4 times. But hey who knows?

ABCD Pattern

This entry is the one i have most confidence about. i have identified ENTRY ZONE 2, between the 71.8 and 61.8 RETRACMENT OF BC . While there is a lack of structure for confluence at this level, if price does manage to retrace to this zone, it will be a ideal point to SHORT, with STOPS above B






Comment: 17/06/2016

Price made a LOWER LOW, trade invalidated