Akil_Stokes
Short

USDJPY: Bearish Cypher Pattern @ 119.10

FX:USDJPY   U.S. Dollar/Japanese Yen
Bear Cypher pattern completion @ 119.10. Minimum stops would need to be above 119.35's. Key word minimum. Technically speaking we've been seeing a series of NSH's so one would think that this previous OR would be a good source of resistance. But it's also trading we''re talking about so you never know.

Akil Stokes
Chief Currency Analyst
http://www.TradeEmpowered.com

"On My Radar: April 20th" http://ratiotradingmentor.com/2015/04/20/on-my-radar-april-20th/
"trading Recap: Week 16, 2015" http://tradeempowered.com/trading-recap-week-16-2015/
Great minds think alike Akil! I posted this this morning on the 15 min chart.
+1 Reply
Akil_Stokes TOP J_Graystone
Nice, I didn't see it on the 12 week chat?
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I rarely check out the feeds here on tradingview, but it looks like a lot of you had this on your radar as well. WELL DONE TRADERS! Looks like that RAS is getting where it needs to be. Also so happy to see traders identifying this pattern the CORRECT way now!
+1 Reply
MinervaFX Akil_Stokes
Since the workshop 2015 I can identify cypher the proper way :D Thank you Akil ;)
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I'm glad you can, it honestly made me sick seeing people take such a successful pattern and butcher, not because they were bad traders but because there is so much false information out there.
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MinervaFX Akil_Stokes
Yes, internet is mostly scam :(
+1 Reply
Unfortunately that's true. , gives trading and a lot of trading educators a bad name.
+1 Reply
J_Graystone PRO Akil_Stokes
12 week chat? I'm waiting for it now! What time is it there? have I missed it?.
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I have also taken into consideration ... I positioned TP 118.90
+1 Reply
Nice, mine are around the same level for now. Hopefully we don't have to adjust
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I'm cautious with this pair as I look at 4hr chart and I think it might go higher. But as a quick trade I've entered short 119.10 with 118.910 TP.
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We have no control over the market, all we can do is have a plan that gives us and edge, and continue to trade that plan consistently. What we think shouldn't affect what we do
+2 Reply
ThomasJeff_DCM Akil_Stokes
Im in the same trade but just got taken put on stop loss.. Well it was a Cypher with trend folowing my plan so i guess we are okay :D
+1 Reply
J_Graystone PRO ThomasJeff_DCM
Just got stopped out too,
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Akil_Stokes TOP ThomasJeff_DCM
yup, if you followed your rules then it should be considered a GOOD trade
+1 Reply
ThomasJeff_DCM Akil_Stokes
The last Cypher on the H1 timeframe with the D leg completing where the X leg started on this one more then made up for this one
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Akil_Stokes TOP ThomasJeff_DCM
yes it did. 2 trades, 1 win/1 loss and ending in profit, not a bad way to play the game
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I've closed with +5 and good think I got out there :D
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Cypher patterns are what, approx 80% success ?
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That number depends a lot on your trading timeframe and the portfolio of pairs that you're trading them on, but typically they complete between 70-75% of the time.
+1 Reply
J_Graystone PRO Akil_Stokes
Damn. Took the words right out of my mouth. Also depends on your entry rules and stops rules.
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IanMFX J_Graystone
Thanks. makes sense to both yours and Akil's answers.
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You got owned on this.
+1 Reply
Akil_Stokes TOP JoshMichael
Darn right I did! Market showed me who's boss
+1 Reply
J_Graystone PRO Akil_Stokes
Damn! They cant all win. All we can do is trade them consistently
+1 Reply
lol i think alot of pattern traders are getting owned the last 2 weeks
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Obviously I can't speak for the masses, but we've actually had some really good performances
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