Nico.Muselle

USDJPY - bat completed and running into potential cypher

FX:USDJPY   U.S. Dollar/Japanese Yen
874 16 9
As this bat completed and we are in a profitable trade, a next step becomes visible in the form of a potential cypher pattern completing @ structure which could indicate till where we can let our profits run and reverse our position to long to benefit some additional profits

This cypher is incorrect as B-point was incorrectly drawn in. Sorry guys ... not free of mistakes yet :D
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The idea is short, right? Where TP?
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The idea was short @ the bat completion yes, target 1 (.382 retracement) has already been reached, now waiting for target 2 (.618 retracement)
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We got really close last night, missed my target by 2
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That stinks ! ... But happens, got stopped out today by USDCAD for 1 pips .... touched and reversed :)
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IvanLabrie PRO Nico.Muselle
If it crosses 1.239 it's game over for the bulls.
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Nice one Nico! This week is all about JPY strength I think.
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Sorry about this guys but the B-point was drawn in incorrectly making this Cypher invalid. Apologies for the incorrect chart, still learning. Thanks Davis and kris.deswerdt for pointing that out to me.

Nevertheless, with the bat completion we might still be looking at a retracement into the indicated level and a potential reversal there based on structure.

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Davis Nico.Muselle
yeh well im in the Bat trade right now so lets see how it plays itself out.
No need to apologies...im also learning so its alright !
Good luck :)
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Thanks, I'm also scraping profits from the Bat completion now ... planning on letting 1/2 of the position run to the .786 instead of the .618 because of this structure.
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Hello Nico, nice one again! But for the Cypher I believe price at D must close below B to be valid, no? At least that is what I learned at the time from Jason, so I would maybe look for the 88.6 on this one?
Thanks again!
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