Oztrade

WE GO UP WE GO DOWN - BEAR CYPHER - BULL BAT - USDJPY 60M

FX:USDJPY   U.S. Dollar/Japanese Yen
229 4 5
Hi Traders, here we see the Cypher from last week still being valid, and in this time we are also presented with a small Bullish Bat Pattern

I also posted the large Bat Patterns one being Bearish and one being bullish - I posted these on Friday 9th and hopefully we can see price head towards these large patterns. I think if you move this chart around you will see the patterns I mentioned.

Anyway back to these patterns.

As always try to keep it simple with color coding.

Red for Minimum Stops - Second stop to be moved to break even when target 1 is obtained. Break Even is your initial entry level and keep in mind put it maybe 2 pips beyond the entry just so you cover any commission or spread.

Green is Entry Level - which is just below the 78.6% for Cypher and just above the 88.6% for this Bat - just so we know we get filled on our orders.

Cypher is Pink or Purple

Bat is Orange

Targets are color coded to each pattern color

Initial Targets 38.2% and 61.8% - these need to be adjusted after we have D completion.

Bat Pattern targets are with Fibonacci Retrace from the A leg to the D Leg - 38.2% T1 and 61.8% T2

Cypher Targets are with Fibonacci Retrace from the C to D leg - 38.2% T1 and 61.8% T2

With the drop in the USD index with interest rates we should see AUDUSD             and NZDUSD             upwards and USD pairs down which should see this Bat more likely

Also other pairs should increase against the USD

Good luck and happy trading

If you require anything that does not make sense just reply to this thread/post
Oztrade
a year ago
Pattern Almost @ Market - lets see if we hit entry
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Oztrade
a year ago
Orders filled - lets see if we can have a good trade. Either way because we followed our rules - win = good trade - lose = good trade.
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KINGRI Oztrade
a year ago
SL HIT
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Oztrade KINGRI
a year ago
Hi Kingri - yes unfortunately we stopped out on this trade went in green for a while but I have only just logged on to see minus 45 - I wish we could win them all but hey thats trading. All the best
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