BigShouldersTrading

USDJPY double 161.8 h1 pattern

Short
FX:USDJPY   U.S. Dollar / Japanese Yen
This is a bit different than my usual, it is purely a harmonic setup on a confluence of 2 h1 patterns.

Pattern 1 (orange): XAD 161.8 = 111.61
BCD 361.8 = 111.61
CD @ 2.24 AB = 111.59

Pattern 2 (red): XAD 161.8 = 111.65
BCD 314 = 111.72
CD @ 2.24 AB = 111.49

H1 extreme volatility candle has just been confirmed.

So now that all the levels have been tested, this setup is in execution mode. At this point the analysis stops, there should be no more thinking about what to do. Now you simply execute this trade WHEN your trading plan/trading system tells you to, but not blindly. You traded these patterns blindly, you'd already be in the red.

The goal of this idea is to show the difference between a strategy/forecast: "I want to short at this level, this pattern etc" and the trade execution, trade system "I am short now and my SL is..."

So good luck!
IF a valid signal appears during reasonable hours, I'll post it in the comments section as a trade.




Comment: an m15 inflection point looks like this
for an m15 trade, entry would be there and SL 112.5
but an h1 trade will take a bit longer to trigger so gotta keep waiting...
Comment:
Trade active:
Trade active: second h1 signal for another 0.5% account position
1st position in the red..
Comment: management point
so here sl should go to break-even on all positions including the early one - it's a bit unfortunate bc this means that 1st position will be scratched.

Comments

stii a newbee on the harmonics charting but waiting for a good entry level short position but how far down to is where dont want take profits out to early iam thinking 111.200-110.600-110.200 need that sell signal with tp and sl bring it on standing by
Reply
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