EURAUD: Bearish Gartley Turning Into Bullish Cypher

FX:EURAUD   Euro / Australian Dollar
Coming off a pain free trade on this pair last night our once bearish Gartley pattern's next step could be to complete the C to D leg of a bullish Cypher . Again, EURAUD             typically has a pretty large ATR so you want to double check you're risk profile on this one, but aside from that "The Pattern Is The Pattern Is The Pattern."

Laid out on the chart are initial ideas for minimum Stop placements and targets, but as I always recommend, please follow your specific rules for stops and of course targets may have to be adjust based on price action.

For an inside look at my trading on a day to day basis feel free to check out my blog and today's post "Trading Recap/On My Radar" http://tradeempowered.com/trading-recapon-my-radar-4-21-15/

Aki Stokes
Chief Currency Analyst

Akil Stokes
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Eur/Cad 1h bearish cypher just triggered now...
+2 Reply
Nice good luck with it.
RJHumphries7d Akil_Stokes
Hi Akil, I've been following the progress of this one and noticed how the price has risen from 1.379 and is now in a bit of a rut around the first target zone. Does this mean the cypher is not completed and thus will not complete and thus we need to start again. OR would you say that if the price did lower to 1.375 'C' (buy price) then its might still then rise again to the first target.
Basically when the shape goes against our expectations is it completely negated??
+1 Reply
Akil_Stokes RJHumphries7d
Sorry I'm late to see this comment, but the pattern would still be valid even if price action slows. What would invalidate it is a change in structural integrity . Again sorry for the late response
+1 Reply
Hi Akil, This is the Nzd/Cad 1h bearish Cypher
+1 Reply
Nice one!
I can only say that if I'll make money with pattern trading I'll be thankful to Jason and Akil only as I watched their training and it helped me a lot.
+1 Reply
True Talk. I call them the Forex Messiah of our time. :)
+2 Reply
Another great chart, thank you to TE and everyone associated with you guys. After the TTW I have been training and just focusing on the basics and recognizing Cypher patterns. Im creating a portfolio of pairs to just trade Cyphers and focus on that only . Thank you again.
+1 Reply
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