TRADE: BUY@121.580 Bought on Compleited Bullish Crab + Structure

In a previous post (see Related Ideas: "TRADE: USDJPY: BUY@123.490 COMPLETED Butterfly + Structure"), I mentioned about this crab pattern. Prices had surged down past the butterfly pattern in that previous post and closed that trade. But now, prices have completed the crab pattern and I have initiated another LONG trade because of the crab AND also because of MAJOR SR Structure level. As you can see in this post, my wave count for this down move is that we have just seen a wave (iii) of (v) and now should see a wave (iv) retrace.

Keep in mind that I am VERY BEARISH on this pair and am looking for a MAJOR move down (see Related Ideas: "ANALYSIS: USDJPY: MAJOR Trend Change Forthcoming? ") so this LONG trade is just to catch a few pips on the rebound and nothing more. I will be looking for a good opportunity to get SHORT again and add to my overall SHORT positions.

Here's the view of the structure level that I am trading from:

*DISCLAIMER:
Please keep in mind that I am not giving any trading signals or trade calls here. Only providing my own trade thoughts for your benefit and insight as to my trading technique and style. Please don't ask if you should or should not take the trade. If you are not sure, then you do not have a trading plan for yourself in place. I suggest you make one before you continue to do any trading!

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