USDJPY: Dangerous short Short

U.S. Dollar/Japanese YenFXCM

Description

⋅ Mar 8, 2017 1:49 PM

Hi traders,

On the USDJPY we have a completed bearish bat pattern. The pattern has completed at point D, with the big push from the news.
Target will be 114.110.

Cheers!

Trade active

⋅ Mar 8, 2017 2:03 PM

Comment

⋅ Mar 8, 2017 7:38 PM

Wow, what?! Trade is going in the right direction!

Comment

⋅ Mar 8, 2017 11:57 PM

Moved stop to entry.

Trade closed: stop reached

⋅ Mar 9, 2017 8:50 AM

Comments

OleksandrSnitko

⋅ Mar 9, 2017 12:39 AM

ur D went beyond X
is it normal?

11021992

⋅ Mar 9, 2017 1:54 AM

@OleksandrSnitko, It happens, yeah. That's why the stop always goes above X. D is mostly based on the extension of the BC leg. The entry is usually around 88.6% Fibonacci retracement of the XA-move.

smart_teast

⋅ Mar 9, 2017 12:32 AM

still valid masta?

11021992

⋅ Mar 9, 2017 1:51 AM

@smart_teast, No, the pattern completed around the time I entered. Next retest it will probably break.

TraderSC

⋅ Mar 8, 2017 11:49 PM

Nice one!

11021992

⋅ Mar 9, 2017 12:25 AM

@TraderSC, Cheers!

iSummer

⋅ Mar 8, 2017 9:55 PM

I have a trade after that trade lol

11021992

⋅ Mar 8, 2017 10:08 PM

@iSummer, Nice, good luck!

Tarekkhal

⋅ Mar 8, 2017 8:45 PM

nice one! fast green omg i can't believe my eyes :)

11021992

⋅ Mar 8, 2017 8:47 PM

@Tarekkhal, I know right. Who would've thought.