Sideways Market Opportunity!🌟 Weekly Chart:
- Consolidation since March 2022.
- Patient trading can earn you 609 pips.
- Ideal for traders looking for longer-term gains.
📊 Daily Chart:
- Consolidation within the zone.
- Trading within this zone brings 104 pips.
- Great potential for 1-2 weeks of trading.
💡 Trading Opportunities:
- Weekly chart: Bearish shark pattern in play.
- Daily chart: Bearish crab pattern and more.
- Four-hour chart: Butterfly pattern and gartley pattern.
💰 Profit Potential:
- Weekly chart: First target 397 pips (~$3,970 USD).
- Daily chart: Running profits of 158 pips (~$1,580 USD).
⚠️ Trading Strategy:
- Set alerts on lower prices for early decisions.
- Wait for confirmation, like double tops with RSI divergence.
Fib3bat
Dollar-Yen Remains Bullish📉 The analysis on USDJPY remains bullish, but for now, we're on the lookout for counter-trend trading opportunities. 🔄
📉 The Bearish Fib-3 Bat Pattern at 149.15 offers a potential shorting opportunity, although it may take some time to validate.
📉 Alternatively, a break of the trendline on the 1-hourly chart could provide a more immediate shorting opportunity. We're watching for a retest without violating the trendline.
⚠️ However, the trendline hasn't been convincingly broken yet, as the candlestick failed to close below it.
🔍 USDJPY is currently of lower priority for trading this week.
Share your trade plan! 📊💭
CADJPY - Bearish BatA Harmonic Pattern that is fit the criteria of a counter-trend trading setup on the CADJPY has been established.
This is not your usual Bat Pattern but a Fib3 Bat or some called it the Alt Bat which works fine with me.
I'm waiting for the candlestick confirmation to decide should I be shorting the Bearish Bat Pattern on every hour candlestick close.