johan.larsson
Short

Potential cypher @ 1,7906

FX:GBPNZD   British Pound/New Zealand Dollar
117 4 5
If we get up there before making the pattern invalid.
One could talk about the A-leg, choppy and best looking leg, but something I would have counted as valid in my backtesting. Almost a 100 pips of risk.

What do you guys think, is this something you would trade, if it completes? I am curious to hear what other traders have to say.

The fact that I am iffy about trading this one, especially with that kinda of risk, makes me sit at the sidelines for this one.

Still interesting and educational to analyze...

This is not a signal, nor should you take this idea for anything but an idea. I am in no position to tell anyone what to do. I only want to create discussion, and to train my eye.. Good luck to everybody in the markets.

Order cancelled: Pattern never formed, keep looking, well on Monday that is, since my trading plan tells me not to trade Non Farms :)
Have to agree not a X leg to me. As you say Johan very choppy does not feel me with confidence you could even say your x leg could end at where your c leg starts.
+1 Reply
Thanks Ian.
It´s good to create some discussion I think. To see the ideas of other traders etc.
Reply
Not a Cypher I would have spotted in my backtesting, XA leg is not an impulse or anchor leg... Your BC leg is what I have on my radar as a XA leg (really ahead of the market)..
But if it is one you would have spotted, go for it man, stick to YOUR plan !! ;)
+1 Reply
johan.larsson PRO journeyofarookie2.0
Thanks,
I noticed that I am more picky now when looking for patterns then when I started backtesting.
I might actually go back in my backtesting and delete the ones I don´t see whith my "new" eyes, I have screen prints on all of them so it´s pretty swiftly done.
+1 Reply
United States
United Kingdom
India
España
France
Italia
Polska
Brasil
Россия
Türkiye
Indonesia
Malaysia
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
Profile Profile Settings Account and Billing Priority Support Ideas Published Followers Following Private Messages Chat Sign Out