glennmercer
Long

USDJPY Bat: Buy the Rebound

FX:USDJPY   U.S. Dollar/Japanese Yen
Hey traders! USDJPY             is nearing the completion of a bat pattern . The wave pattern is predicted to complete near the base of wave-i-of-v-of-1, so a stop can be tightly placed below point X of the bat. Also, the TP can be placed at the top of wave-1 which coincides with the top of the bullish channel . This way, we maximize our R/R ratio and get out of the trade immediately if the wave count is invalidated.
Comment: Long is technically active, but I will be waiting for an impulse to buy the pullback. Here is the price action on a tighter TF:
Comment:
snapshot
Comment: Nice Rebound!
snapshot
Comment: If you have not yet entered this one and want to be long USDJPY, here is an idea for entry:
USDJPY Long: Don
Trade active
Ideas Scripts Chart
United States
United Kingdom
India
España
France
Italia
Polska
Brasil
Россия
Türkiye
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
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Account and Billing Sign Out