akhostov
Short

Bearish Cypher on GBPCAD with Candlestick Pattern Confirmation

FX:GBPCAD   British Pound/Canadian Dollar
62 0 0
I decided to experiment and try something new and that is incorporate candlestick patterns into my trading style ( harmonic patterns + chart patterns + structural trading).

Here we have a Bearish Cypher Pattern that I found yesterday (PST). I was looking for a pattern completion around 1.91423. The best part of this completion was that I identified an Evening Star Candlestick Pattern, which is a 3 candle pattern that signifies a Reversal in trend in favour of the Bears. You can take a look at the specifics on this website (http://www.onlinetradingconcepts.com/TechnicalAnalysis/Candlesticks/EveningStar.html)

Overall, I find that harmonic trading patterns give you an idea of future movements. The chart patterns give you the range and bound, but also predictions on future price movement. Lastly, the candlestick patterns just give a definite confirmation.

Trade wisely, Trade responsibly.
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