So we have a potential bearish bat pattern (Yellow) and a potential Bullish cypher pattern (Purple). I will be posting the trade set-up depending on whichever one the market completes first. For now just admire the work of advanced patterns.
would you put an order in at both these entry points and see which one (if either) get completed?
JoMarshall
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Yes I would but also note that if the bat pattern completes first then the cypher pattern will be invalidated because the C leg will extend beyond the 141 extension
emeka25
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JoMarshall you're a legend. Can you teach me this patterns please
DerekUweri71
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Hi Jo,
did you enter this short trade?
JoMarshall
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Yes i took the first short cypher but i missed my entry on the bullish cypher by a few pips
DerekUweri71
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Very good !!
Many traders would have their entry orders at 1.09524, but price peaked at 1.09427 before selling off, difference of 9 pips. So if you got in, that's very good.