EverythingForex
Long

UPDATE #3: TRADE: USDJPY: COMPLETED BAT TP1 Hit (+283 pips)

FX_IDC:USDJPY   US DOLLAR / YEN
In my previous post see Related Ideas: "UPDATE #2: TRADE: USDJPY:2 LONG-TERM Patterns So Far.+820 pips"), I said that I was now net LONG (meaning that I am still holding SHORTS on this pair but now I have more LONGS than SHORTS) because of the Completed bullish bat pattern and looking to make pips on the retrace. Well, now prices have hit the TP1 of the bat to bag another +283 pips. Add that to the +820 pips already made on the way down and in the last 2 days, I've bagged +1,103 pips on this pair. And some people continue to say "Patterns don't work!". You know who you are! Ok, so I'm being a little bit feisty and more than a little bit boastful. Yes, I know and I apologize. But some recent comments set me off a little is all. I'm short-tempered like that. Please forgive me.

Anyway, back to business at hand. Having hit the TP1, prices are now close to retesting the BAMM B point line of the bat which is also a MAJOR SR Structure. Should it get past that point, then the TP2 could very well be targeted. Just keep in mind that this movement is only a retracement of the recent crash in a wave (iv) movement. I fully expect that when this retrace is done, wave (v) down will commence and take prices even lower. To see my wave count expectations, see my recent post:
USDJPY: Now That The Dust Has Settled..Wave (iii) Is NOT Over!

MY TRADE PLAN
I have now closed 70% of my LONG positions and will let the other 30% ride to see if prices will hit the TP2. I will be closely monitoring the price action for signs of the trend continuing and will quickly close the LONG positions and see if there is a good opportunity to add to my SHORT positions.

*DISCLAIMER:
Please keep in mind that I am not giving any trading signals or trade calls here. Only providing my own trade thoughts for your benefit and insight as to my trading technique and style. Please don't ask if you should or should not take the trade. If you are not sure, then you do not have a trading plan for yourself in place. I suggest you make one before you continue to do any trading!

If you like my posts and find them helpful, please take a second to hit that LIKE button and follow me so I will know my posts are useful to you. Doing so will encourage me to post more! As always, all constructive comments are welcome. Agree or disagree.
Trade Log: http://bit.ly/29AeqnC
Year-to-date Profits: +5,794 pips.
USDJPY FULL Report (Subscription Required): http://bit.ly/2ttcCTV
This Month In Indexes newsletter: http://bit.ly/2tGqpcy
Want results like this? Join us: http://bit.ly/29x4bfM
Dear guru, as per 28 august 2015, has wave (4) in TF 240 been ended?i always learn how you can combine your trading tools. In my system in TF 240, its signed is short now
Reply
Thanks but I'm no "guru". In fact, I'm not sure what that means in terms of being a trader. Not even sure that's a compliment! A guru is someone who knows everything. I won't ever say that I know "everything" and someone else doesn't. I'm constantly learning as well. Anyway, your question...no, there is not evidence just yet that wave (iv) has ended. At this point, just don't know enough yet to say that. See? I'm not a guru! I don't know everything! :-)
Reply
ygautama24 EverythingForex
Thank you. you are a humble one. then you also always admit your fault here. salute. since i ever lost my fund, i always try to learn. at first, i learn about gartley pattern and i got linked to this website and your trading plan. I try to follow your trading plan. keep to be an inspiration to contribute here. my pray you always to be in good condition. anyway, i m from jakarta indonesia. if you visit here, pm me, who knows need good advise in the town. :) gbu
Reply
United States
United Kingdom
India
España
France
Italia
Polska
Brasil
Россия
Türkiye
Indonesia
日本
한국
Home Stock Screener Forex Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Account and Billing Sign Out