Oztrade

GBPCAD - ADVANCED PATTERNS - BULL CYPHER - BIG BEAR BAT - 240M

FX:GBPCAD   British Pound/Canadian Dollar
74 0 2
Hi All, I just wanted to share this potential short and long opportunity with you.

Here we see a Potential Cypher and Bat Pattern forming.

As always Stops Entries and Standard Targets are marked on the chart.

I wont explain the price entry stops targets here - they are on the chart.

Being such large patterns you may look to forward your entry by 10 pips on the BAT and maybe 5 for the Cypher
to ensure your order gets filled.

I have chosen the B and C leg for this BAT because the C leg hasnt been violated If price comes down then we simply shift the BAT B Leg to the Current Cypher's C leg still making it vaild and within the 50.0% Retrace - From X to A - Either way as long as we dont break the BAT A Leg then the Entry will be 88.6%

If price continues upwards to the 61.8% but not touching the 78.6% - and continues to drop to at least a 61.8% Retrace then I will look to publish a Potential Gartley Pattern .

Same with the Cypher because Price has formed the X to A to B and not violated the B leg while price increased this makes valid Cypher . As long as we dont Close beyond a 1.414 FIB EXT from X to A and back down to X then we will have validation and hoping for a full retrace to hit our entry.

Obviously these have a long way to go before looking to hit any entry levels - but it is good to keep posting so you can watch your charts - I find it easier keeping them in trading view as I can quickly look down what I have been analyzing for the week.

Many times while trading I dont get time to post some patterns or possible trades because they just happen so quick sometimes.

Again check your rules and remember its not a signal service only for you to see my analysis - trust your own trades

Thanks Traders - have a good next few days of trading. Don't give too much back
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