AUDJPY SHORT- BAT & BUTTERFLY PATTERN

Aug 1, 2017

The price complete two patterns, which are Bat & Butterfly Pattern. Well when I did my analysis, I saw that the price gave us a 50% ratio pullback and never broke the A - point. The moment i saw that, I knew that there's new interesting harmonic pattern forming, which is a Bat pattern. I anticipated the price to break the B - Point and Hit the 88.6% fib ratio as my target and it did that. but now I saw that after the price hitting the 88.6% we didn't get a strong pullback. I knew something is going on, and I said if the price hits the 127.2% Fib ext. ratio, that will be our new D - point to complete the Butterfly Pattern. I am short on this one currently. First target 38.2% & second target 61.8% fib ratio.

Lets see how it plays out. :)

Kind Regards