Akil_Stokes
Short

USDJPY: Potential Bearish Bat Pattern w/ Supply Zone

FX:USDJPY   U.S. Dollar/Japanese Yen
Not too much on my radar today, which is perfect since I prefer not to be actively trading on Monday’s. With that being said, something that I have my orders locked and loaded on for later on is this potential bearish bat pattern on the USDJPY             completing at 125.09 right around a 4hr supply zone . This one may also be worth watching as it approached 125 even as we know how these psychological numbers affect price action.

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Akil Stokes
Chief Currency Analysis at Trade Empowered
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Hey Akil, we also got a completion of a bullish gartley pattern. Check it out :
snapshot
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moneymaking moneymaking
CORRECTION: This is the completed pattern:
snapshot
+1 Reply
Akil_Stokes PRO moneymaking
I was watching, this, had to pass because I don't trade during the FOMC
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moneymaking Akil_Stokes
Oh, yes that right. Good decision mate :)
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Good spot, I have the same pending limit order due to the awesome supply zone.
The nice and quick drop from that zone signals high imbalance of buyers and sellers, so the probability is high that there are some more sellers left unfilled from last time price was there.
+1 Reply
Hopefully, i'd be happy to see that type of reaction
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yes I would short that...!
+1 Reply
Why is the supply zone on this bat any more noteworthy than any other supply zone? There is always going to be some degree of structure at the X point, otherwise it wouldn't be an X. If anything it looks like this would be a weak supply zone.
+1 Reply
It's not any more noteworthy, just pointing out what's on the chart
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Hi Akil, Thank you for your analysis. I have found that the Yen crosses don't obey the advanced patterns as well as non Yen pairs. Have you noticed this? What are your thoughts?
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