FIBSII

Bat AND a Cypher?? EURJPY

FX:EURJPY   Euro Fx/Japanese Yen
Hey all,

Here we have another unique position setting up on EURJPY             . We have a Bullish Bat pattern and a Bearish Cypher pattern both forming. Some of you may have the question:

"well if one says up and another says down, which one do we take?"

The answer is whichever completes first! If one completes and that triggers the other, we take both. If none complete, we take none. Remember; following the rules is more important than doing what you think will happen or which you think is more likely to complete and 'win'. They are both good trades so we take both.

Fibsii Team

Related Ideas

Wouldn't the completion of D for one pattern cancel the other? (since completion of D will be breaking the C point level)
Reply
FIBSII Telson
@Telson, Yes, you would be correct. If the Yellow Cypher pushed up to completion it would break the C point of the Green bat and vice versa. I will change it in the description as it seems confusing - my point was that when we get given 2 conflicting signals at the same time you need to follow your rules and take the one that the market presents at the time. (in my case take the first one that completes!)
Reply
Telson FIBSII
@FIBSII, thank you for the clarification. It would be wise to look elsewhere for more info on price movement.

Let's wait it out. :)
Reply
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