Gorgeous Bat Pattern on XAUUSD and an upwards triangle on USDJPY

20 lut 2017

Found this almost perfect bat pattern on gold on what I think should be a down trend, if completed to a lower retracement, it should give us fuel for that pop on USDJPY. My trade is on USDJPY, gold's target would be 1234.20 and USDJPY's target would be 113.473, taking profit a bit before at 113.460.
Notice the strong bias of USDJPY upwards even though Gold has been keeping within a range.
I also think we are setting ourselves up for that fundamental long continuation on USD.

21 lut 2017

Zlecenie aktywne

So far so good... I still think this is just the beginning of an up trend but I'll be taking some profits soon.

21 lut 2017

Uwaga

21 lut 2017

Uwaga

so my objective was clearly achieved and surpassed.On the basis of the significant strength of the move up and my fundamental long term fundamental bullish bias, I'm staying put, looking for consolidations and breaks to enter with further long positions.

21 lut 2017

Zlecenie aktywne

The waiting has definitely paid off. They say patience is key and it couldn't be more at this point. Still waiting for signs of a pull back to take profits. Objective for now 113.885. We'll see how good it holds and make a decision about taking profits.

21 lut 2017

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