THE GOOD BULLISH CYPHER PATTERN

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Long

Euro Fx/U.S. Dollar (FX:EURUSD)

FX:EURUSD Euro Fx/U.S. Dollar

nice trade on EURUSD with a bullish prediction to ride.

Good cypher with everything ending well at just 78.6% retracement .

but due to the fact that the AB=CD pattern ends deeper close to the 88.6%, i had to a bit extend the entry

looking at the chat, RSI is oversold already, ready to be bought with a divergence and market hitting target

PRZ is area of reversal in the big zone with the first one at 78.6% and second around 88.6%, so make a choice

risk to reward ratio could be adjusted to suit you

good luck and nice trade

Looks like a good trade. Let's see if the market gives us any indication of going back up. Thanks once again!!

moneymaking

you are welcome as usual. when free, would love to chat with you a bit to know each other.

thanks

Nice! We have some minor structure at that level too.

But in my opinion, going long on the EURUSD would still be consider a counter trend trade. If I were to long, I would look to take targets off at retracement levels and then continue riding the trend downwards.

akyong

Thanks man. Nice idea

The interest rate news of CHF, probably killed the pattern.

moneymaking

In my opinion and my pattern here, it is not killed, still going on nicelt since im not stopped out

chrystael

But do you remember what i said abiut your pattern? This is what experience has got and the know how has got to do. Im still in. Sorry if your pattern is killed. May be you gotta lemi do some crash program for you on patterns....lol. Nice to relate with you.. Believe me you are awesome. Just hope my target gets hit

chrystael

I didn;t got stopped out just to be clear. LOL. What I meant was that, the interest rate news might makes this pattern invalid. I didn't thought the market would stop here. Sorry for the misunderstanding!!

Hi fellas. If you are in this. Please help me do this. Watch carefully. Once target one gets hit. Take your profit and roll or adjust stop losss for target two to break even to avoid any loss of money.

Thanks

Ideally for me. I make sure if in profit i dont loose any even if i dont get the target filled. Because to gain little is better than to gain none and loose something.

All the best. Do your own thing.

Good luck

Many analysis today shows a bearish Eurusd for the day. So fellas be careful so your profit wont turn intonsomething else

Good eye!

Akil_Stokes

Hello prof! Please do you have anything to say in this respect? Your say would be mostly welcome and valued.

However thanks for stopping by. I appreciate it more than the profit i would make on this trade.

chrystael

Nope, everything lines up. Perfectly valid cypher. I don't like the time of year, but that's out of our hands

Akil_Stokes

Yea boss. But since im not stopped out, lets see if it will ride. Ideally stop loss should be a lil below the X point, but even in this setting it is not stopped out yet. Remember my news for today about eurusd when i told traders about it. Well, looking at everything if it will slip outta our hands finally.

Thanks for stopping by prof

EURUSD is back to that familiar support which failed to break during ECB's press conference. So a decline on not much of news (just post FOMC) could mean a bounce is quite likely. 1.236 should be a fair level to exit or book partial profits on long positions.

Hey chrystael, I think your stops should should be 10 to 15 pips below the X point. Please correct me if I am wrong, you might be doing something different from what I see on the chart. Thanks!!

moneymaking

Ideally a stop loss is greater than the X point. And this is the reason i often have my entry points close to or at or above 88.6% retracement so my risk will be small. And that is the reason i dont not mostly trade 78.6% retracement gartley. As in this case i look for other confirmations to show that market is likely going below the 78.6% which i got right.

But stop is subjective, individualized. For me same here. If yoh wana know how i do mine then a personal message would suffice. Thanks

The euraud did quite fine, so far more than 1000 pips in profit. Hope target will hit good

You have very small stop loss that's why You failed. Anyway... i'm also on similar trade but I'm afraid that large move up was followed by drop to D leg and "move has been made"

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