Ozayevable
Short

looking to short on sunday.

FX:USDJPY   U.S. Dollar/Japanese Yen
267 11 1
UPDATEI 1st target hit - trade is free fellas...
Got stopped by the Fibo. No significant pull back. Making a bull flag.
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sure thats a possibility. the only thing that matters for me is to "get free", and leave the rest into hands of mother market. Considering how jpy pairs love 50%, and that 100 is sitting right above a big bad 50% that failed twice already, im ready to give it a shot.
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I see what you mean. The double top is temptatious. Upside potential limited. Down side high potential. Great risk reward!
I prefer to wait for confirmation of the 2 scenario's before I enter my position: bull flag or bounce of Fibo.

By the way: just a question and no offense, are you using the right harmonics ratio?
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well id like to think so. its sure strikes me as a bat pattern. do tell if i am missing something.
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KevinT Ozayevable
Don't het me wrong Oz. I'm absolutely not a specialist in harmonics. But compared to the harmonic patterns I've seen, this one looks out of proportion. Not judging this one is right or wrong.
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it looks like it cuz retracement happened right after one candle. thats why the triangle on the right looks small. but looks is not the requirement here, proportions are.
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uhum... :P
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I go short now :P
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KevinT KevinT
Got my bud kicked...
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i use tight stop and a 1st target equal to my stop. when i got my 1st target i close half of my position. so even i got stopped out later, i lost no money. dont trade if you dont have a plan.
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