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.

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.
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I agree with your analysis..You are great at what you do.
Thanks! I try....hope it helps you!
Josphat89 EverythingForex
I already went bearish on the cypher..lets see how it plays out
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! ;-)
Josphat89 EverythingForex
Thats the best approach to take. Patience and toughness. Good luck to us ;)..
thank so much
EverythingForex ChatchaiVong
Yw. Hope it helps!
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