j_nathan

EURJPY Cypher: Butterfly (current) Deep Crab (possible)

FX:EURJPY   Euro / Japanese Yen
This weeks aggressive Euro moves has negated some studies and populated other new studies.

For the EJ pair we will be looking for key fib levels to define possible Cypher patterns Butterfly and Deep Crab Bearish .

Per ususal the market negates our XA move and the study is nullified.

122.887 cannot be exceeded
121.971 is a key .886 level and supports the Deep Crab pattern
121.167 has been satisifed in the XA movement so Butterfly Bearish will define the next possible move

What to watch for:
Price points above and for the day and check for 121.307 for a possible reversal on the day to chase the next BC leg target which is currently 119.251.
Comment: my apologies
last night I missed a key divergence on this pair before a beautiful Bull run
and just this evening again on the attached 8min chart

we have not exceed the XA measurement and have not redefined this Butterfly into a Deep Crab by hitting the XA .886 121.971, yet

for now keep an eye on that XA .886 121.971, otherwise our target is still 119.251 until that .886 and/ XA being met say otherwise

Trade active: Deep Crab is verified.
EJ satisfied the AB .886 and is now pointing down to a very wide price range, earning its name today "Deep Crab".

The problem in this case is not the study but how ridiculous the price swings have been since March '17 (123,114,121). So the current BC leg has a large window AB (.382-.886). Anyone looking to trade this short into that .382 is best to either take the profits at .382 and wait or use a wide trailing stop loss at .382 and hope the market doesn't rip your stop if .886 is a possibility.

Trade active:
while I cannot hold your hand on entry bull or bear, we are at a crossroads with a pennant playing out while an M is also close to forming

in other words pay attention, expecting big move up or down and candles are extremely relevant the next hr or so
Trade active:

KEY CANDLE IDENTIFIED FOR BEAR ENTRY ORDER
Comment:

short it is
enjoy and gltu all
Trade closed: stop reached: wow completely stopped at the precipess

dont now what to say
one for review and regroup
Trade active: believe it or not the AB .886 was not exceeded by yesterday's and today's mega candle swings

even though market structure changed 3 or more times the last 24hrs .886 has been confirmed and the XA measurement was not compromised

so the BC target remains and we will see if the exuberance of fundamentals allows good technical projection to finally take over

for now I've received far to many atop outs and margin calls to keep trading these 40-100 pip candles but will keep the study going and re enter next week if things have calmed down
Order cancelled: the study is nullified
XA pattern has been compromised

I will no longer publish pre-cypher studies
they are useful for daily notes but unverified past leg 2/3 just isnt realistic

glad learned cypher, very very useful and please check my most recent study that is verified legs A-D
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