Buy USD/JPY around 111.80-112:two harmonic pattern
The USD/JPY is now bearish due to the dark cloud of us tax reform and the delay of the news. I now wait for an opportunity of long USD/JPY from 111.80-112. Why ? Because of the two harmonic patterns : bullish crab and bullish bat.
Bullish bats' X is near 111.60 , A is 114.73. So using the XA,help us to locate B point: it's 50 retracement of XA. Bat pattern's D point is determined by 88.6% retracement of XA, in the neighborhood of 112 . At the same time, this is the range of 2.24-2.618 times of BC.
Bullish deep crab's X is 113, A point is the same in 114.73. Deep crab is a deep crab because point B is 88.6% retracement of XA , the final inversion point D is 1.618 times that of XA which is 111.80. So here there are two bullish pattern in 111.80-112
This region, which is also a support area, is the last line of defence for the medium-term bulls
Buy from 111.80-112 , target at 113, stop loss 111.60,
The trading will be active if the price is reached
Bullish bats' X is near 111.60 , A is 114.73. So using the XA,help us to locate B point: it's 50 retracement of XA. Bat pattern's D point is determined by 88.6% retracement of XA, in the neighborhood of 112 . At the same time, this is the range of 2.24-2.618 times of BC.
Bullish deep crab's X is 113, A point is the same in 114.73. Deep crab is a deep crab because point B is 88.6% retracement of XA , the final inversion point D is 1.618 times that of XA which is 111.80. So here there are two bullish pattern in 111.80-112
This region, which is also a support area, is the last line of defence for the medium-term bulls
Buy from 111.80-112 , target at 113, stop loss 111.60,
The trading will be active if the price is reached
Trade active:
Trade active:
come on! go go go
Trade closed: stop reached:
oops. Mr.market hate me. the pattern is broken. But don't call into question about harmonic. It still has the possibity to fail. But we limit the rsik
