Oztrade
Short

USDJPY - BEARISH BAT - POTENTIAL SHORTING OPPORTUNITY

FX:USDJPY   U.S. Dollar/Japanese Yen
134 2 4
HI All, I wanted to share this potential shorting opportunity

Bearish Bat - Earlier I posted the Bullish Patterns and noted this pattern in the description

Stops entries and Targets as usual

I have placed entry line below the standard 88.6% - but if your rules tell you to maintain standard entry then the 88.6% is 124.216

Minimum Stops at 113% Fib Extension A X

Targets as usual just above the 38.2% and 61.8% from A to D leg - remember to adjust targets on D completion

Good Luck and happy Trading
Thank you for sharing. can you say few about fib extension of leg AB confluence with fib ret.? again thank you.
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Oztrade WegTerFX
Thanks WTF - we also have a 1.414 Fibonacci Extension Confluence around the 88.6% level - X to A Leg Retrace is our standard 88.6% Retrace being the entry level - if you take the Fibonacci Extension Tool from the A to B leg and back down we see there is also a Fib Ext 1.414% @124123's being within 10 pips of our 88.6% level. And we also have an AB=CD move completing at this area - if you copy the length of the A to B leg then paste it at the C to D you will see this almost completes at the D Completion area. If price continues up we will also look for the moves it creates to get there and hopefully building more levels of confluence to provide more confirmation. We may see smaller AB=CD moves and also from the lowest NEW Structure levels more signs of Fibonacci Confluence
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