J_Graystone
Short

EURJPY Cypher Pattern 60 Min

FX:EURJPY   Euro Fx/Japanese Yen
212 4 5
Looking at a Cypher pattern completion up at 136.99 which is right below that psychological 137 flat even handle number.

Getting stops above the X leg may be a little out of the comfort zone of some traders so if you are looking for other reasons to enter, there is a Double top with RSI being over bought and bearish divergence.
You can then us an ATR based stop giving you a great Risk Reward .

You can also see a triangle pattern forming with higher lows but the RSI is putting in lower lows giving us a clue that the market is running out of steam.

If you are really conservative, you could wait for a 2618 to get involved.

Also a 3 Drives pattern completion at market

Great trade mate :)
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J_Graystone PRO moneymaking
Thanks.
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i'd rather wait to see how price acts on this trend line, if breaks then i would be a seller
snapshot
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J_Graystone PRO farid_ardavani
Nice,

that's what I love about trading. There are so many ways to make money. there isn't a wrong or right way. Just sticking to your trading plan and not deviating from your rues will enable you to make a nice return.
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