Bearish overlaping patterns

FX:CADJPY   Canadian Dollar / Japanese Yen
159 8 1
Cypher and butterfly overlap, bearish signal.
because I think this trade should be active as a reversal candle is on the chart now
so where do you suggest a good stop loss.... ?
fximperija Dcharmin1
SL above 97
Tme to go short! :)
With all due respect, I agree with the BUTTERFLY, but not that CYPHER! CYPHER C should be at 1.272FE of X-A at least,and no candle close passed 1.414FE.
You are absolutely right about the cypher but my rules are more loose when it comes to exact retracements. I do not follow blindly but adopt to market. Anyway thanx for your opinion.
BBFX fximperija
No problem. Thank you for taking my comment with the respect it was offered! Many people get offended when you have a differing view point! :-)
That what TV is all about, sharing thoughts and ideas. Cheers
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