BrianSoh

Short opportunity: USD/JPY Bat into Crab on 1h chart

Short
FX:USDJPY   U.S. Dollar / Japanese Yen
2
An almost perfect crab (0.659 instead of 0.618 on B leg retracement for the crab pattern) after an almost perfect bat (0.858 thereabouts instead of 0.886) on the 1h USD/JPY chart.

Look to short with S/L above D leg of crab, with conservative T/P at 0.618 of crab XA level (117.033). More aggressive positions to possibly scale out from include bottom of crab C leg (116.717), bottom of crab A leg (116.480), bottom of bat C leg (116.198), and bottom of bat A leg (115.973).

These are just levels I would trade at and should not be taken as guaranteed profit opportunities.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.