Long $USDJPY if B point is closed above

Updated

We have a *Potential*Bat here that is not yet active. If you are OK with playing C-D legs then you can wait for a convincing close above $103.4 B point. ABCD completes at $105.846 & full pattern completes at 106.868. Traditional way to play this is to wait for full completion & enter short on confirmed reaction (negative divergence or strong push from completion point). I have also added a 161.8% fib extension on there to if this extends to a Crab ($107.441). Also to note, we may be retracing a completed Bullish crab ext as well, marked by green 38.2% $109.127. Other confluence points marked in pink. Multiple ways to play this depending on movement, stay nimble.

Note

chart

Tracking a smaller Bat that lines up well with minimum target or larger Bat in Yellow. ~$105.846-105.9 for retrace

JohnConaway

Also on:

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.