Oztrade
Short

POTENTIAL - BEAR CYPHER - ADVANCED PATTERN - USDJPY 60M

FX:USDJPY   U.S. Dollar/Japanese Yen
Hi All, I wanted to post this potential Cypher Setting up here

Inverted risk reward to T1 - you may look for price continuation to the top of the green box which is also very close to the Even Handle number 121.000 - you can see the previous structure resistance level - this would make the RR 1:1 for T1

Good Luck and Happy Trading
Tijmen_K
a year ago
nice view on the USDJPY. usefull. thanks
Reply
Oztrade Tijmen_K
a year ago
Thanks Dada - see how we go with this trade - keeping in Mind the FOMC tomorrow as long as we are in the green and have stops in place. Would hate to see a 500 pip candle in the wrong direction and get slipped. All the best
+1 Reply
Tijmen_K Oztrade
a year ago
indeed. your D point is on the Trend resistance line. so i will wait and see what the price will do on that point. maybe a breakout. good luck
Reply
Tijmen_K Tijmen_K
a year ago
snapshot
Reply
Oztrade Tijmen_K
a year ago
Yeah we notice this also in USDCAD - periods of consolidation where many patterns form until eventually a break out. Great Chart below Dada right inline
Reply
Tijmen_K Oztrade
a year ago
thank you Oz.
Best regards and good luck!
Reply
idan88
a year ago
Trade is on?
Reply
Oztrade
a year ago
Nasty FED News on this pattern
Reply
Tijmen_K
a year ago
very nice downwards movement ^^
Reply
Oztrade Tijmen_K
a year ago
Appears we had a nice winner - with a T1 of +54 and a T2 of +118 bringing a total of +172 and a stop reverse Cypher which I didnt have time to post hitting T1 for +50 and stops for T2 rolled up to Break Even
Reply
Tijmen_K Oztrade
a year ago
Well done. It dindt match my rules so i Dindt took the trade. But it is nice to see how the market reacts on these patterns. Well done.
Reply
Oztrade Tijmen_K
a year ago
Hi Dada - yeah Its a matter of Structure - Fibonacci - Trend - Price Action and Advanced Patterns all in one analysis. But yeah having all of this confluence in one trade makes it a higher probable chance for a roll over. I just don't write all this in my analysis or put too much clutter on the charts - All these best and you are 110% correct if it doesn't match your rules then good on you - high regards to you.
+1 Reply
ellychen
a year ago
miss the short....sad...
Reply
Oztrade ellychen
a year ago
Its all good Elly Chen - many more possibilities sometimes during the FOMC if you arent protected by stops below or above your entry - still being in the green by the time the news is released its best to sit out. So you could say that you did have a winner based on that :) all the best.
Reply
ellychen Oztrade
a year ago
^-^
Reply
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