USDJPY: Pending Bearish Bat Pattern at Broken Uptrend Short

U.S. Dollar/Japanese YenFXCM

Description

⋅ Nov 29, 2016 2:21 PM

Pending bearish bat pattern:

Entry Level: 113.565
Stoploss: 114.405
Profit targets: 111.65, 110.685

If price reaches the first tp, move sl at breakeven to second position

Comment

⋅ Nov 29, 2016 2:23 PM

Uptrend breakout:

Trade active

⋅ Nov 30, 2016 2:12 PM

USDJPY Bat

Comments

IshanTripathi

⋅ Dec 2, 2016 9:33 AM

Hey.. should we try and enter again?
What do you think??

Fxprotrader

⋅ Dec 2, 2016 9:36 AM

@IshanTripathi, No, because as you may see price went up sharply and is now correcting.. Most likely another up move is coming.. That's what i believe

IshanTripathi

⋅ Dec 2, 2016 9:37 AM

@Fxprotrader, Okay. Thanks

IshanTripathi

⋅ Dec 2, 2016 9:40 AM

@Fxprotrader, But also looks like a Double Top Pattern (Bearish Reversal).

Fxprotrader

⋅ Dec 2, 2016 9:47 AM

@IshanTripathi, If you trade double tops, then it's a good sell.. but based in my analysis most likely another impulse up is coming.. Good luck with your decision :)

IshanTripathi

⋅ Dec 2, 2016 9:48 AM

@Fxprotrader, Okay. thanks..

IshanTripathi

⋅ Nov 30, 2016 6:38 AM

This is great chart...exactly what i was looking for?
I have entered late but am in..

Fxprotrader

⋅ Nov 30, 2016 7:27 AM

@IshanTripathi, Ok, good luck..!