USD/JPY is forming a potential advanced bearish bat pattern
Comments
bgrant
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I notice you're on the daily here. Do you feel it's good to enter on the short today? Or wait until formulation of short entry candle on the next daily chart?
tmanuelasorina
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no no no
dont enter untill the pattern is completed
this is an important rule in trading the patterns .you must enter only at the completion point D and only in the specific condition of these two indicators
So please be patient untill the pattern will touch point D
Swerver
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I have opened a short here, its a valid reversal point and .618 retracement of current swing meeting with long bearish Trendline support.
Unlike the suggested ALT Bat scenario, you probably want to wait to define the C point, I am looking for a deeper bearish retrace as shown the Emerging Butterfly setup.
Swerver
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I will often trade the C-D legs, with confirming confluences.