ThomasJeff_DCM
Long

USDCHF long opportunity at market! Cypher pattern

FX:USDCHF   U.S. Dollar/Swiss Franc
We got a bullish cypher pattern at market at strong multiple month support after a double bottom with RSI over sold. It ticks all the boxes. But please trade with care, we got the Greece meeting en the EU parlament today so it can make price very volatile later today as the meeting progresses or the fear/greed thing kicks in to everybody.

Kind regards
Thomas Jeff
Hi Thomas on this one too. Lets see
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ThomasJeff_DCM PRO KevinSinghDhaliwal
a year ago
Great its been a ruff week in the markets with the volatile prices with all the strong moves. I would move my stop to break even when we reach half way to target. I don´t even have a target 2 for this one, the market is just too unstable
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KevinSinghDhaliwal ThomasJeff_DCM
a year ago
This looks promising
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dule85
a year ago
I would need at least a 0.382 retracement from A to B, so I can't take this as a cypher, but there is a bat pattern completion down at 0.9131........
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ThomasJeff_DCM PRO dule85
a year ago
Well you are very right that is the rule for the Cypher pattern all though i got my own rule set that if it comes within 5 pips in a 4 hr then its an okay trade as long as the rest of the fibs meets the rules. on the 60min that rule is 2 pips ect.
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ThomasJeff_DCM PRO ThomasJeff_DCM
a year ago
I just checked yes there would be a valid bat pattern that would trigger a little lower than my entry giving a little better R:R
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dule85 ThomasJeff_DCM
a year ago
There is even a gartley somewhere in that area, depending on how you trade a gartley. Alltogether 3 pattern entries in the same area makes me more confident that this could be a winner ;). Good luck!
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dule85 ThomasJeff_DCM
a year ago
It's ok, just wanted to point it out. If it meets your rules then its fine :)
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ThomasJeff_DCM PRO dule85
a year ago
Yes exactly, its like the Gartley you posted on the AUDUSD the B - C retracement goes past the 0,782 its pretty much a double bottom, it don´t follow the rules but i´m sure it meets your rules to be tested to be a profitable outcome over the long run =)
+1 Reply
ThomasJeff_DCM PRO ThomasJeff_DCM
a year ago
arh if we use the same X leg i don´t see a Garley, after the first 0.618 retracement the next retracement for the B - C leg comes short of a 0.618 to meet the "perfect gartley" but well lets see i think it all comes down to the Greece meeting
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