Max_N
Short

EURJPY CYPHER SHORT AT 129.29

FX:EURJPY   Euro Fx/Japanese Yen
116 6 8
As the week chart below showed, after a return move to the former neckline 136 of the complex head, price goes down the support line 130.13, and is retesting.

The next support levels are:
-AB 1.27 EXT: 124.95
-AB 1.414 EXT, objective of head, and 50% retracement: 121.94

Short at 129.29:
-cypher pattern 0.786
-1.27 EXT in leg CD

Targets : 126.90, 124.95, 121.94

snapshot
what do you think?
snapshot
Reply
Max_N KevinSinghDhaliwal
2 years ago
There are some structures around 126.80, so maybe it will go upward.
Let's wait for the FOMC.
Reply
riskmode TOP
2 years ago
You sure that's not a shark?
Reply
Max_N riskmode
2 years ago
Sorry, I don't know about shark. Can you picture it?
Reply
riskmode TOP Max_N
2 years ago
Its the same as a cypher except the final point extends to the 113 extension of XC
Reply
Max_N riskmode
2 years ago
I googled shark pattern, they overlap. According to
EJ SHORT + LESSON ON SHARK / CYPHER
, the ABCD pattern in D leg must been concerned.
Reply
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