TheForexSamurai

Pattern Based Trade Setup - Pre NFP Analysis

TheForexSamurai Updated   
FX:USDJPY   U.S. Dollar / Japanese Yen
Hi guys we got a short/sell opportunity here with a potential bullish bat pattern setup as the pattern is not yet completed but we could build a bias out from it. As said, we can now aggressively short/sell this market now with stops just above the pattern's A point (114.280) wait for a BO of the potential lower TL and target with atleast a good 1:1 upto the pattern completion on the 88.60% Fibo level (113.10) for another long/buy opportunity depending on future price/market action. Expect movement on this upcoming NFP event. Trade with care.
Comment:
Pattern/Setup is already ruined, means this is a invalid setup already. But if you have taken a 1:1 RR you probably have taken TP1 atleast.

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.