A small bearish cypher that potentially leads to a Double Tops play. You decide.
Showing posts with label USDJPY. Show all posts
Showing posts with label USDJPY. Show all posts
Wednesday, 27 November 2013
Thursday, 21 November 2013
USDJPY Bearish setup one after another
USDJPY has been trading strongly upwards in the past 1 month, price kept pushing higher and pierced through the PRZ of several bearish patterns, leaving harmonics traders with a bit of frustration.
However the price is still below the x of a bigger bearish Bat and Cypher (which means the patterns are still valid), there is a small bearish Butterfly coming, aggressive traders might want to take an entry near the entrance of Butterfly PRZ otherwise 100.8 would be a safer entry. I do not normally trade Butterfly but doesnt mean you don't :) Good luck trading out there.
However the price is still below the x of a bigger bearish Bat and Cypher (which means the patterns are still valid), there is a small bearish Butterfly coming, aggressive traders might want to take an entry near the entrance of Butterfly PRZ otherwise 100.8 would be a safer entry. I do not normally trade Butterfly but doesnt mean you don't :) Good luck trading out there.
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