If you like taking big trades on the hourly, this one is for you. It is an advance cypher pattern set up that normally has targets at the 38.2% and 61.8% Fibonacci retracements of the C-D leg. For this pattern you're going to have to have at least a 100 pip stop but thankfully the R:R is a little more then 1:1 which is not very normal for the cypher pattern. Just be sure to follow what ever your plan says because that's how you'll end up being profitable.
Thanks for your great analysis mate!
Here is my view on USD/JPY.
It is based mostly on Market profile (volume)
If you are interested there are more intraday and swing trading levels in my profile page. You are very welcome there!
Dale
steveb4088
⋅
That was a good call. Is this still an active projection and will the up trend continue? It looks like a trend reversal?
TradZ
⋅
changed my TARGET higher to 115.738 with a STOP set to make profit@115 if goes against me ;)
TradZ
⋅
I'm in@114.735 but should have been in SMH But we doin gd ;) TARGET : 115.435
Here is my view on USD/JPY.
It is based mostly on Market profile (volume)
If you are interested there are more intraday and swing trading levels in my profile page. You are very welcome there!
Dale