captain_smollett
Short

USDJPY. Potential Bat pattern may drive a pair to new lows

FX:USDJPY   U.S. Dollar/Japanese Yen
Potential Bat pattern:
1. A-B retracement hit 50% retracement level of X-A
2. B-C retracement approaches 61.8% of A-B.

If price hits 61.8%, then it should retrace to 88.6% of X-A, which is matching 161% extension of A-B

Pattern is invalidated if:
a. Price doesn´t hit 115.525
b. Price closes monthly candle above 122.781

Additionally:
a. MACD shows divergence almost completed
b. Price almost reached an important resistance area near 116
c. Price stays within a pitfork´s limits

Short Entry: 115.53
SL: 126
TP: 81.3
United States
United Kingdom
India
Deutschland
España
France
Italia
Polska
Brasil
Россия
Türkiye
Indonesia
Malaysia
日本
한국
Home Stock Screener Forex Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing Priority Support Ideas Published Followers Following Private Messages Chat Sign Out