EURUSD: Potential Bullish Cypher Pattern & Why I'm Waiting

FX:EURUSD   Euro / U.S. Dollar
It's a busy Monday in the Markets as we're seeing a lot of corrections from last week's major news event. I've got a lot on my radar including potential longs on GBPJPY             & AUDUSD             . As well as a few potential shorts on GBPJPY             & USDJPY             . In fact the USDJPY             may be filled already on a bearish Cypher .

Speaking of Cyphers we have a potential bullish Cypher here on the EURUSD             down at 1.1165. Now because the risk is beyond my acceptable levels (100pips) I won't be able to enter aggressively at the D completion, rather I'll have to wait until I get an alternate reason inside the Kill Zone. in the future I'll be able to simple move my entries down to a level that will put me within that 100pips zone however I do have "rules" about when I can change "rules" so that can't happen until the end of the quarter.

There looks to be lots of movement in the market which means lots of opportunities, so i'm excited about the week ahead. I'm also excited about some testing that I'll be doing trying to "break" a level III             system to make sure all of the bugs are out. Admit it you'd be excited to if someone have you a sledge hammer and said "swing away"

Good luck out there traders and thanks for all of the kind comments from this past week's Weekend Review video. The speech that Jason Stapleton gave was great and hopefully it had an affect on your trading mindset! (Here's the link https://www.youtube.com/watch?v=QegwE4S1Imc)

Akil Stokes
Chief Currency Analyst at Trade Empowered
Click here for 20+ hours of FREE Training

Click the link below to subscribe for more FOREX TRADING videos

Here's A Free Training Lesson for you on "The Only 3 Ways to Trade"

500+ Free Trading Videos

Check Out The Trading Coach Podcast!
I forgot to share with you the link but here's a look at some live structure/pattern based analysis we did on the EURUSD yesterday "Successful Trading: A Great trading Success Story" The EURUSD trade starts at minute 17:00 https://www.youtube.com/watch?v=OnzLKZhfSzM
There's a potential Bat pattern setting up alongside the cypher's CD leg completing right below structure on the 4 hour, isn't it? A-B-C is formed, now price only has to head north and break above B. Entry at 1.14180, stops above structure and 1.15 even handle. 1:1.21 risk/reward for target 1 and about 1:2 risk/reward for target 2 according to my analysis.
+1 Reply
Akil_Stokes Kjetil_Johannesen
Correct, if we continue up we'd be looking at a potential bearish bat. I think you have the wrong area for stops though unless we're looking at different patterns. The bat I'm looking at completes above 1.16's. I think i can see the smaller one you're talking about. Looks good too, but we need a "C" leg to form first
Akil_Stokes Kjetil_Johannesen
Doing my post New York analysis now, and yes you're dead on. great spot!
My RAS is improving. :)
+1 Reply
Akil_Stokes Kjetil_Johannesen
It's an amazing thing once it starts to click and you start seeing them everywhere
Bear Cypher on NU
joe.francis.507 joe.francis.507
just asking about opinion, the price moved to 1.1105, so does to targets have to move to 38.2 of C leg to 1.1105 or remain as 38.2 retracement of c to d leg at entry?
+1 Reply
Akil_Stokes Mother-ofChinKeat
Fibonacci's should be rolled with the price action
+1 Reply
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out