jamanglona

POSSIBLE ABCD PATTERN ON USDJPY (TRADE WALK THROUGH)

Long
FX:USDJPY   U.S. Dollar / Japanese Yen
HELLO TRADERZ! SO, WE MAY HAVE A POSSIBLE ABCD PATTERN COMPLETION ON USDJPY ON THE HOURY CHART. WE'RE GOING TO USE THE "IF/THEN" METHOD. IF WE GET A COMPLETION OF THIS ABCD PATTERN, WE'LL BUY AT THE 1.272 EXTENSION, WHICH ALSO COMPLETES THE C TO D LEG, AND IS ALSO IN CONFLUENCE WITH PREVIOUS STRUCTURE SUPPORT. OUR TARGET WOULD BE THE 61.8 ON A FIB OF THE C TO D LEG, WHICH ALSO CORRELATES WITH PREVIOUS STRUCTURE SUPPORT WHICH SHOULD NOW BE RESISTANCE.

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