USDJPY-Weekly Market Analysis-Sep19,Wk2

8 Sep 2019

A bearish bat with ABCD pattern on the daily chart got me engaged in a longer-term trade. A break and close above the previous high was the 1 sign I need to know that this plan is sound and there's nothing to worry about, besides, I have already shift stops to lock some profits for all my USDJPY trade.

Being a conservative-aggressive trader, on 1 end, I wanted to trade more for such a lovely setup, on the other hand, I don't wish to exposed too much risk on any single trade. A simple trading mantra I use, "Every Trader Believe That Trade Is A Profitable One, So Do I." This prevented me from over-exposure from any single trade.

So what I did is to wait for other buying opportunities on a lower-timeframe to engage the trade.

On the 1-hourly chart,
1) long at the base flag and exit at the previous high, then shift stops to entry,
2) a retest with indecision candle and reversal candle to long
3) Deep Gartley
4) Now waiting for a retest of the buy zone to engage.