chrystael
Short

BATS AND BUTTERFLY SETUPS

FX:USDJPY   U.S. Dollar/Japanese Yen
55 1 1
in reference to previous post. please there was no gartley in there. there were two bats.

this trade has the butterfly terminating much early and on good previous supports and resistances if the market gets down there.

the butterfly also terminates with the completion of the 3 drives pattern (3DP)

but since we are having 3 cute patterns all pointing to a bearish move for now? so i presume to go with the pointing.

but how do i do that, i waited and looked for a good opportunity which i saw one with the followings:
a. entry as it hits a resistance drawn with the black horizontal line and
b. at a good retracement after the last pullback following the second drive pattern.
c. there is a close below previous high, showing and portraying the market is in a likely downtrend

hope this description is quite clear

if you wana join the trade to complete any of the patterns, do the followings:

good entry

good RR

good luck


NOTE: market is never your friend so be careful entrying this trade. you could dial back position sizing to have a small lot traded.