pavan15589
Short

USDJPY - The big picture....

FX:USDJPY   U.S. Dollar/Japanese Yen
115 4 1
There is a bearish Bat Pattern that is coming up on the 4 Hrs chart....
And it looks like the best place to open a short at around 101.70 levels after the reversal confirmation with stops above 101.75 area....
And
T1 - At intermediate support ( 50% retracement of CD)

T2 - Can be trailed as a major trend reversal (a break to the downside on the pair) is expected....

And all the currency correlation also add up to the evident bearish trend on the pair....

Related Ideas

pavan15589
2 years ago
Pattern hit stops....Going short with ABCD move... Waiting to see what happens...
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adolfo.fernandes2 pavan15589
2 years ago
I'm watching!
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pavan15589 adolfo.fernandes2
2 years ago
Yup...!! The thing is the pattern still hasn't been violated since it never closed above the highs and is still forming inside the Elliot wave...Generally when the last leg extends beyond the tolerated Fib Ratio, it is called an extended Gartley and when it violates the highs of the pattern, we could look for AB=CD which is still a Gartley Pattern which is again a part of Elliot Wave....
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pavan15589 adolfo.fernandes2
2 years ago
Am watching too....:-D
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