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UPDATE #1: TRADE: USDJPY:2 LONG-TERM Patterns So Far.+440 pips

FX_IDC:USDJPY   U.S. Dollar / Japanese Yen
367 1 6
Remember this chart I posted one month ago? In this post (see Related Ideas: "USDJPY: Analysis - Why Is It Going Down?"), I said and I QUOTE, "I'm saying here that this pair has ALREADY started on the next corrective wave? Really? Well, that's my wave count and I'm sticking to it! Yes, we're going down!". This is when many "experts" were still calling for MUCH MORE UPSIDE to go on this pair!

So here we are. Watching prices fall like a rock and now the "experts" are trying to jump on board after the train has already left the station. Well, they can catch the train on it's next stop. Me? I'm already in from 125.00 when the crab I posted (see Related Ideas: "ANALYSIS: USDJPY: Filled Bearish Cypher Could mark the top.") was completed and I said, "we could be at the beginning or top of the downward corrective move". This was 14 days ago. Great thing about tradingview is that EVERYTHING you post is documented and there for all to see. So no fudging!

Anyway, enough with the bragging you are probably saying....yeah, OK. I agree. Let's just get to what' this trade is doing now. From the point I made the trade till now, we've seen +440 pips in profit. At this point, it is trying to break through the BAMM B point of the bat patterns. If it should do so, the odds of the bat pattern being completed just goes up! In other words, expect further price declines.

MY TRADE PLAN

Simple. I'm holding all my SHORT positions for a long ride down!
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Good work! yes i remember very well your long term charts. I entered short also but took profits too early. The wave 1 on your chart was not clear for me, its seems finally we hade a truncated fifth. Right now price is bouncing on previous wave 4 on my count. Anyway i think there's no way back, we should wait for the next train station. Regards.
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