FX_IDC:USDJPY   U.S. Dollar / Japanese Yen
Here we have a bearish bat entry backed up for a double top and a good supply and demand zone created by the drop which originated at point X of the pattern.
Be sure to wait for the price to pause and reverse in the PRZ. The trend on usdjpy is straight up, so it could easily bust through all that resistance and go to 123.
-1 Reply
I agree but the large drop from X and then price returning to it does make is a good trade to look at closely. I have also just taken a 5 min long bat patter on the USDJPY which you can see on here. This gives me a good option either way
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There already is a double top. You may choose not to wait the pattern completion. Did you calculate the target 3 as an XA extension?
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Samtastico-PRO OccultTrader
This is the lowest risk to reward ratio entry if you did not catch the double top
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OccultTrader Samtastico-PRO
It actually depends on the strategy you follow. I generally go short if the first downward leg after double top retraces back to .618 if I'm in an aggressive mood. But if you seek a better R/R, there's no set up like a bat pattern.
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