EverythingForex
Short

ALERT! USDCHF Bearish Cypher Completion.

FX:USDCHF   U.S. Dollar/Swiss Franc
UPDATE: During the NFP release, prices just barely nicked the S/L but did not take out the trade. Prices also never closed above the PRZ and the X point. So this trade is still good and the pattern is still valid. If you took this trade, you should still be in it. I am. Now will look for prices to reach Target 1. Hopefully today.

A Bearish Cypher was just completed on this pair. Can take the trade with S/L at the X point of the cypher (0.95007). Profit targets on the chart. Good luck!
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ForexEasypips
a year ago
I noticed a Buterfly Bullish on the daily time frame. The Market price is about to
complete C @ 0.95159 and that should trigger a sell.
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ForexEasypips
a year ago
see this
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EverythingForex PRO ForexEasypips
a year ago
Did you post a chart? I don't see anything......
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ForexEasypips EverythingForex
a year ago
https://charts.mql5.com/8/239/usdchf-d1-fxdm-financial-services.png
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ForexEasypips
a year ago
https://charts.mql5.com/8/239/usdchf-d1-fxdm-financial-services.png
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EverythingForex PRO ForexEasypips
a year ago
IMHO, it's not a butterfly pattern until it completes at the D point. It has the POTENTIAL to be a Butterfly though. It might turn out to be a good trade BUT it isn't based on any harmonic pattern trading rules. There are probably other good reason for taking the trade though.

One of my trading rules for trading harmonic patterns is that I don't take any trade until that pattern actually completes at it's D point. Good luck!

But thanks for bringing that to my attention. I'll be keeping an eye out for it!
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UPDATE: the NFP did cause prices to dip below the PRZ BUT failed to close below it. So the trade and the pattern is still valid. If you got stopped out and did not get back in the trade when prices failed to close below the PRZ, unless you got back in close to the PRZ, I would not suggest to chase the trade. You can put a buy limit order at the D point and wait and see if prices move back down enough to get you in but if prices continue higher towards Target 1, I don't suggest to chase it. Wait till prices hit target 1 and wait for a retrace before attempting to buy for target 2.
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EverythingForex PRO EverythingForex
a year ago
Ooops! That was comment meant for a different trade! Copied and pasted the wrong comment!
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Here's what I meant to say:

UPDATE: During the NFP release, prices just barely nicked the S/L but did not take out the trade. Prices also never closed above the PRZ and the X point. So this trade is still good and the pattern is still valid. If you took this trade, you should still be in it. I am. Now will look for prices to reach Target 1. Hopefully today.
Reply
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