Oztrade
Long

GBPAUD - BULLISH CYPHER - ADVANCED PATTERN

FX:GBPAUD   British Pound/Australian Dollar
249 6 7
Hi All, I wanted to share this Cypher Pattern with you from a previous post we violated the original C Leg and Formed another One here.

Again Minimum Stop Level in Red

Entry Green - and as always you may need to roll orders forward to ensure you get filled.

TP1 and TP2 have been marked as standard as always - and we simply adjust Targets when D has completed.

You can see we touched the 61.8% but did not close beyond making this Cypher Valid - and the 78.6% D Completion is below the 61.8

If you feel more comfortable taking the lowest move in this Pattern by all means this is still 100% a valid Pattern. If Entry from the Lowest to the Highest Structure Points. Entry is just above Our X Points here @ 2.14927 and would look for an entry close to the 2.15000 I have drawn the bigger pattern in with no levels for stops entries targets

If you would like for me to post this pattern let me know

Good Luck and Happy Trading
Good analysis. My short get stopped out yesterday..
Reply
Oztrade ForexisbizFib
What level did you short this pair?
Reply
I shorted 2.1700...the best I got was 70 pips..then it reverse and hit sl at 2.1800 :((
Reply
hello sir great i m waiting for long time that what to do? so sir can i buy from here i wait to go more down as u mention in the chart
Reply
Oztrade imtiaz.ahmad
Hi, In trading I perform technical analysis based on what I see in the charts by analyzing Structure, Price Action, Fibonacci Confluence, Advanced Patterns, AB=CD and so on I put myself in the highest probable trades for my entry levels, this minimizes the risk. I simply wait for these levels to be reached, so basically when XY and Z meet then I enter the trade. When all the stars align so to speak then I will enter. I only trade 1H time frame and perform Top Down analysis from Daily to 4H to my TTF - I also use LTF for extra confirmation on some trades to get a better entry level. Putting it simply I just wait - I dont like to give my money away the time will come for our entry - and if it doesnt we simply analyze the charts again until we have a reason for entry.

I couldn't tell you to go long or short because you would be putting all your trust in me to either make you lose or win, but what I can advise is to look at the entry levels and base your decisions on your rules and trade plan, if these patterns and entries meet your risk reward profile and strategy and trade plan then by all means take the pattern. I like how you mentioned waiting a long time what to do, I love this quote by Warren Buffett - "The Stock Market is a device of transferring money from the impatient to the patient" Just be patient and your entry will come to maximize on your reward and minimize your risk.

If you could tell me what type of trader you are that would help me a lot - and also what is your trading time frame - Hope this helps
+1 Reply
thanks for give me full detail
Reply
United States
United Kingdom
India
España
France
Italia
Polska
Brasil
Россия
Türkiye
Indonesia
日本
한국
Home Stock Screener Forex Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Account and Billing Sign Out