AUDJPY completed bear cypher and incomplete bullish bat

17 Tem 2017

I apologize for the rough drawing, it is an approximation as I am currently in this trade/on the fly. bear cypher completed @ 88.097, possible bullish bat forming with PRZ @ 87.678. Holding short to test point B on bat (point C on cypher, same level). Could possibly see flush down to the Bat's PRZ @ 87.678 for a bat completion. Holding tight! Tops placed a couple of ticks above current high @ 88.144.

Cheers! Happy Trading.

-John, J1TFX

17 Tem 2017

Not

due to my late entry, I was not able to take profits off at the 61.8 retracement of XA as I had hoped. We are seeing pullbacks now, and may get stopped out. I will not take my position off early as my rule states that the price must close higher than the previous high (not just touch). anyhow, a stop out may be possible in this area. a hard stop is in place so I will let it run. :)

Cheers! Happy Trading.

-John, J1TFX