By Boon Hooi Wee on 13 Sep 2018 | Filed under Currency Pairs, News, NZDJPY, USDJPY | Comments
Just wanted to make sure that you caught my last post on how & when to stretch your trading targets. If you missed it, CLICK HERE, to read it. It worked out perfectly on the USDJPY trade. Let’s have a look at the charts to see how it turned out.
What happened? you might be wondering. We were short the USDJPY after a formation of a bearish Bar Pattern. Placed a stretched target to take profit at the completion of the bullish Gartley and it closed with 130pips profits. The Bullish Gartley too generated a nice profit of +85pips at TP2. Now We are holding a short position at the completion of the Deep Gartley pattern. Closed half this position as it hit TP1 again (+44pips). So far it has been an amazing ride for us.
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More trade ideas on the USDJPY. If this pair goes back to up test the bearish Deep Gartley pattern, it gives us another opportunity to take a short trade. If this plays out as our trade plan, USDJPY could easily be a candidate for our favourite “Trade of the Year”. Let’s track this closely together.
Potential Bat Pattern on the NZDJPY H1 : For those who just learn the Bat pattern from me during the 3hr Workshop, you should easily be able to spot this pattern. Measure correctly and get your sell zone plotted out on the charts. This might be a trade for the end of the week or maybe even next week.
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