Bearish AB=CD pattern for USD/JPY. Before entering a short
trade please be patient and wait for the current 4 hour
candle to close.
Price may still reach the weekly R1 above, however, as long
as price does not close above 111.08 the AB=CD pattern
remains valid.
Trade short 1 (RvR ratio 2:1)
Entry: Close below 110.50 (or at market but only as long as price remains below 10SMA)
S/L: 110.79
T/P 1: 109.92
Trade short 2 (RvR ratio 2:1)
Entry: Close below 109.92
S/L: 110.28
T/P 2: 109.20
Trade short 3 (RvR ratio 2:1)
Entry: Close below 109.20
S/L: 109.75
T/P 3: 108.11
As always, scale out your profits and adjust your stop/loss
to suit your personal risk management profile.
Happy trading
trade please be patient and wait for the current 4 hour
candle to close.
Price may still reach the weekly R1 above, however, as long
as price does not close above 111.08 the AB=CD pattern
remains valid.
Trade short 1 (RvR ratio 2:1)
Entry: Close below 110.50 (or at market but only as long as price remains below 10SMA)
S/L: 110.79
T/P 1: 109.92
Trade short 2 (RvR ratio 2:1)
Entry: Close below 109.92
S/L: 110.28
T/P 2: 109.20
Trade short 3 (RvR ratio 2:1)
Entry: Close below 109.20
S/L: 109.75
T/P 3: 108.11
As always, scale out your profits and adjust your stop/loss
to suit your personal risk management profile.
Happy trading