Bearish Bat
USDJPY - Weekly Market Analysis - September 2018, Week 2The market is still on its bearish move but for our inner-circle subscriber, they must be delight that they have engaged the short trade on USDJPY as they have received the Trade Ideas Position on a Bearish Bat formation.
2 possibilities right now to long USDJPY, one is on Bullish Shark completion, another is based off AB=CD.
Which is better?
It depends on your trading rules.
Trade Ideas Position: USDJPY Bear Butterfly over Bear Bat H1Shorted this trade, using SL base on Butterfly as the stop is still above the X leg of Bear Bat.
Taking conventional target based on Butterfly but Target2 I'm watching closely for the completion of Bull Shark.
This is what I call Pattern over Pattern
EUR/AUD Technical analysisThe EUR/AUD pair witnessed a steep bullish price action from the lows.
The RSI indicator is currently in an overbought zone.
The MACD histogram is also over-stretched.
Adding to that, the pair has bearish bat formation.
Hence we assume that the pair has made an over run and there is a good chance of throwback upto the support levels of 1.57270.
(Episode #168) EURJPY - Trade Ideas Educator (22AUG2018)Bear Bat setup and Pt D completes at previous support, turns resistance. I would need to see additional supporting reason like double top or falling wedge or at lease a pin bar at Pt D completion.
Reason being Pt C completion is a double top completion.