J_Graystone
Short

USDJPY Short with Cypher Pattern Completion

FX:USDJPY   U.S. Dollar/Japanese Yen
944 6 14
For anyone still looking to short this pair, we have a cypher pattern completion at market.
Looking for a retest of structure



http://tradeempowered.co.uk/
https://twitter.com/J_Graystone
https://www.youtube.com/channel/UCCDu1S_OmR5XtM-AzL-_U1Q
https://www.facebookcom/JGraystoneTE/
https://www.instagram.com/j_graystone/
http://www.tradeempowered.co.uk
Comment: Sorry Guys, we were looking at this as a structure trade and the Cypher is in fact invalid. Been a long week.
this is valid in the 4H chart but still did not hit the 78.6 fib :)
+1 Reply
Actually it is not a valid Cypher, since the C leg closes beneath the 1.414 Fib level. Apart from that it is a good structure trade and there is Fib retracement, as well.
Reply
Yep. we were looking at this as a structure trade. MISTAKE. Its been a long week!
Reply
Mustafoinc J_Graystone
You do work hard! Good job on catching that mistake!
+1 Reply
Yep! I wouldnt enter the Cypher anyway as the risk is too large. But as I say, we were looking at it from a structure trading prospective. have a great weekend.
Reply
SergeantPringles J_Graystone
well every cypher that dips below the 1414 can be seen as invalid if you go down the timeframes enough. at some point you will get a close because the candles would get so small and ud get so many. i personally think , if you look at all the (common) timeframes and you can find one where the close is above the 1.414 and the pattern itself has a reasonable amount of candles (my rule is 50+ candles) then its valid. which would be true for the 4H in this case. which is why i will trade it.
but thats ofc based on my ruleset.
Reply
United States
United Kingdom
India
Deutschland
España
France
Italia
Polska
Brasil
Россия
Türkiye
Indonesia
Malaysia
日本
한국
简体
繁體
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing Priority Support Ideas Published Followers Following Private Messages Chat Sign Out