TomHall
Short

USD.CAD - Bearish Bat & Cypher Setup - 1.3507 & 1.3517

FX:USDCAD   U.S. Dollar/Canadian Dollar
On the USD.CAD 15min chart we 2 potential trade opportunity's at the D leg completion of Bearish Cypher & Bat setup.

Bearish Bat Setup ( Blue ) - D leg completion 1.3507
Target 1 - 1.3486
Target 2 - 1.3473

Bearish Cypher Setup ( Grey ) - D leg completion 1.3517
Target 1 - 1.3493
Target 2 - 1.3477
Comment: USD.CAD - D leg now complete at 1.3517
Trade active
Trade closed: target reached
Comment: A minor pullback to 1.3456 is expected.
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The king of harmonics! :)
+2 Reply
TomHall TOP Abozahra
@Abozahra, lol Thanks very much!
Have a great weekend.
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@TomHall, You too! :)
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Whats the difference between those setups?
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@Mayz, I have attached below the difference in trading them for you.
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@Mayz - Learn to trade the Bat setup


How To Trade The Bat Pattern.
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@Mayz, - Learn to trade the Cypher Setup


How To Trade The Cypher Pattern.
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hi tom, thanks for your chart setup, may i know whether do you use rsi indicator or divergence as filter for your entries.
+1 Reply
TomHall TOP puterae1
@puterae1, Hi, my pleasure.
I do indeed use RSI for divergence.
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Hi Tom, it looks we are at the place to short, am I right? many thanks
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TomHall TOP willzhang6
@willzhang6, Hi,
That is correct, the D leg on the Cypher setup is now complete.
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willzhang6 TomHall
@TomHall, Thank you. shall we go for it? anyway, have a great weekend!
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TomHall TOP willzhang6
@willzhang6, My pleasure.
I can't advise but if it fit's your rules then look to enter.
You have a great weekend also.
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@TomHall, mate , but the C Cypher leg is at 1.618 level and exceeds 141%!? Is this Cypher a valid setup?
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TomHall TOP MarkSterensohn
@MarkSterensohn, For me personally it doesn't exceed the 1.414%

snapshot
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@TomHall, pretty strange ... i have zhe same chart , but another numbers
snapshot
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TomHall TOP MarkSterensohn
@MarkSterensohn, If i can see properly it looks like the fib is draw to and from the wrong location.
+1 Reply
@TomHall, from A to B
snapshot
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TomHall TOP MarkSterensohn
@MarkSterensohn, Try using the Fib extension tool from X - A and back to X
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@TomHall, now it's different of course. So it's correct to measure C leg in Cypher setup not from A to B with Fib retracement tool like in tutorial? Correct is to measure X to A back to X with Fib Extencion tool, right? Thank you very much, mate!
snapshot
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TomHall TOP MarkSterensohn
@MarkSterensohn, You can measure it both ways but it was easier to explain as you were already using the tool.
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@TomHall, in the Gatley B to A to B 1.272 with Fib extension tool , too?
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TomHall TOP MarkSterensohn
@MarkSterensohn, You can use either the Fib retracement or extension tool, you will have the same outcome.
+1 Reply
@TomHall, thank you very much!
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TomHall TOP MarkSterensohn
@MarkSterensohn, My pleasure, have a great weekend.
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@TomHall, Tom, i 'll cover this position at breakeven before closing in 30 min . I think it's very risky holding over the WE. You hold, don't you?
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TomHall TOP MarkSterensohn
@MarkSterensohn, If the risk is too much then certainly close it and reset on Sunday evening / Monday.
For me i leave positions but that is due to my SL account size ect, it's just what works for me and subscribers.
+1 Reply
Hello Tom, nice setup with your bat and cypher analysis. Like the way you do it. Even though we analyse differently we come to same conclusion to short at that level.. Hoping to learn how to use bat and cypher
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@fiso, Hi,
That is great, Most strategy's are profitable if you know how to implement it and when to execute it.
Always great to have a high confluence area.
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Keep watching
+1 Reply
TomHall TOP Nuno de Mello
@Nuno de Mello, Something for Sunday evening / Monday morning
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@TomHall, Not really, why?
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TomHall TOP Nuno de Mello
@Nuno de Mello, How do you mean?
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@TomHall, I'm sorry Tom, in my first comment I told to stay close and see the movement of the market.
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Good job, Tom. Another great signal. Keep it up and while I may not be rich thanks to you, I will surely be a bit less poor. ;)
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TomHall TOP Aetherial
@Aetherial, Thanks very much :)
lol i'm sure you will become financially free if your putting in that work :-)
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See a break down and going south on USDCAD
+1 Reply
TomHall TOP FxRussian
@FxRussian, I believe we will see a minor bit of consolidation prior to another break lower.
We will have to see what setups the market give us.
+1 Reply
FxRussian TomHall
@TomHall, check out my DXY chart... its a good chance... with NFP coming up on friday.... but i know you dont trade fundamentals
+1 Reply
TomHall TOP FxRussian
@FxRussian, If you post it below for me mate i will take a look.
+1 Reply
FxRussian TomHall
@TomHall,
Really strong Bearish evidence for the dollar.
This, check it out !
+1 Reply
TomHall TOP FxRussian
@FxRussian, Nice setup mate, including the bearish divergence.
+1 Reply
FxRussian TomHall
@TomHall, something to look at before trading the dollar, and thank you Tom!
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