EverythingForex
Short

UPDATE #1:USDJPY: POTENTIAL Bull Crab 4HR + 2 Bearish Patterns

FX:USDJPY   U.S. Dollar / Japanese Yen
In my last post on this pair (see Related Ideas section), I talked about a POTENTIAL bullish crab on the 4HR TF and I also mentioned about possible trade entry to take advantage of the move down the CD leg of this pattern to the D point completion. Well, prices did not EXACTLY follow the path that I thought it might and have started to retrace back towards the B point of the bat where I pointed out would be a good entry point for a SHORT trade.

Here we have 2 more POTENTIAL bearish patterns that can be used as entry points for the SHORT trade: a bearish bat and a bearish cypher . Both would be trend continuation patterns as well.

As of this posting time, the bearish bat is very near to being completed with prices only pips away from its' D point. But not far from the bat's D point overhead lies a bearish cypher pattern's D point completion. Completion of the cypher would invalidate the bat. But for the purposes of entering a SHORT trade for the possible down trend towards the crab's D point, either one would present a good entry.

SUMMARY
I present both of these patterns as triggers for the crab's CD leg SHORT trade and that is what I'm using these for. Not for a quick 15M trade. Although you could do that as well. I would prefer the cypher completion and not the bat because as you see, the cypher also completes near a minor SR structure as well as near the .618 retrace of the current down trend. However, because the bat completes before the B point which is itself a minor structure level and the 50% retrace, I will enter SHORT there instead of the cypher since the cypher isn't that much farther away. But you can decide based on your own risk tolerance and trading plan.
SPECIAL Commodities $39.99/mo http://bit.ly/2AZWhx4
List of my ACTIVE Trades: http://bit.ly/2JkoaR3active
Sign up to mailing list: http://bit.ly/2iNieEY
Facebook Group: https://www.facebook.com/efxselect
Twitter: @andrewefxselect
Website: efxselect.c
I agree with your analysis..You are great at what you do.
Reply
Thanks! I try....hope it helps you!
Reply
Josphat89 EverythingForex
I already went bearish on the cypher..lets see how it plays out
Reply
Remember, the market does what the market does. I trust my methods and analysis. I let the trade play itself out and I just wait. This is where mental toughness and patience pays off...hopefully. If and when it does, my only job is to collect the loot! ;-)
Reply
Josphat89 EverythingForex
Thats the best approach to take. Patience and toughness. Good luck to us ;)..
Reply
thank so much
Reply
EverythingForex ChatchaiVong
Yw. Hope it helps!
Reply
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out