TomHall
Short

EUR/JPY - Bearish Cypher Pattern

FX:EURJPY   Euro Fx/Japanese Yen
On the EUR/JPY             15min chart we have a potential short opportunity at the D leg completion of a Cypher Pattern .

The price reversal zone on this pair is between 133.530 & 133.779
The PRZ zone is only a guideline of where we will be paying attention for trade setups and opportunity's.

Potential targets for the Cypher Pattern placed at the .382% and .618% retracement of the C to D move.
Stop loss would be placed above X leg structure resistance .

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Just love this idea :)
+2 Reply
TomHall TOP morshedul.sazid
Thanks very much :-)
Reply
Is it wise to enter long aiming at the D leg and then shorting when (if) it reaches the D leg?
Thanks
+2 Reply
Long term this wouldn't be a profitable strategy.
The reason these patterns are so successful is because of the critical Fibonacci ratio's it must complete at to become valid.
If price fails to hit the D leg the pattern is no longer valid and it would be taken off the potential setups.
I hope this helps a little.
Reply
Thanks.........
+2 Reply
TomHall TOP rajenderam40
No problem at all
Reply
where is the TP?
+1 Reply
TomHall TOP Kendy_Sneaker
Target 1 is at the 0.382% retracement of the C to D move - 133.190
Target 2 is at the 0.618% retracement of the C to D move - 132.976
Reply
thanks~
+1 Reply
thanks~
+1 Reply
TomHall TOP Kendy_Sneaker
My pleasure.
Reply
Nice one.. Thanks Tom
+1 Reply
No problem, have a great week in the market.
Reply
Great idea Tom! thanks
+1 Reply
TomHall TOP Tijmen_K
Thanks very much for the feedback.
+1 Reply
Nice! Good luck bud! This my latest idea on the GBPUSD
+1 Reply
SmartTradingFX SmartTradingFX
GBPUSD: Bat Pattern Setting Up
+1 Reply
TomHall TOP SmartTradingFX
Nice setup, I am currently short the GBP/USD with a different pattern.
Reply
EURJPY LONG
+1 Reply
Nice chart.
Reply
still working the idea budy?
+2 Reply
TomHall TOP DouglasMesias
I am no longer interested in getting short at the D leg completion, price has exceeded the Fibonacci extension I look for.
+2 Reply
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