USDJPY Short Cypher for Entry

FX:USDJPY   U.S. Dollar / Japanese Yen
739 8 19
Looking at the USDJPY             , we now have a bearish bias due to the violation of previous structure support .
As market is putting in this descending wedge pattern, we typically see a break out to the downside.

For those of you that are day traders and trade advanced             patterns, there is a cypher pattern near completion up at 114.95 on the 5 min chart which you could use as your entry reason to get short.(Trading view will not let me publish the 5 min chart)

See you in the London Live Room this morning.

Love the Pattern!!
+1 Reply
J_Graystone PateSkpate
Thought you would like this one Kenny! ;-)
Watching the same pattern, I like your incorporation of the cypher pattern to cause the move towards the support level.

great trade
+1 Reply
J_Graystone vrcnicholas
Was a great "winning" trade. I also have great "losing" trades though. all trades are great if they are entered following your trade plan rules right?
That was smooth!
+2 Reply
J_Graystone ThomasJeff_DCM
Nice little day trade to start the day
Have you found that Cypher patterns on lower time frames, like the 5 minute have the same win/loss % expectancy of those found on higher time frames?
+3 Reply
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