Short

AUDJPY: Bearish Bat patter

Updated

AUDJPY completed a bearish Bat pattern in a strong resistance zone at 61.8% of the daily fib.ret from 21/09/2017 to 27/11/2017.
Be careful as we are in a strong 3-rd wave up and price can extend higher. Otherwise if this is the correction of the wave down from 21/09/2017 to 27/11/2017 than we can see prices to test lower levels from those of harmonic targets.
I am waiting for any confirmation.

Good Luck!

Note

60 min bearish bat pattern completed on the zone where i am looking for the reversal. Price created also a potential small double top. In this situation if price will break the top than we have the confirmation that we are inside an expanding flat and not inside a bearish pattern and price can test the red zone before moving down. Small risk involved and targets are those of the bigger bearish bat.

Note

First target reached.

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Another short entry. After price reached the first target retraced almost to the top and formed another bearish bat 60 min.

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Harmonic targets for the 60 min bearish bat both reached. I am looking on AUDJPY for more downside as long as we have a bigger 240 min bearish BAT (yellow). We can see a correction at this zone before the down trend resume again.

Note

KlejdiCuni

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