TomHall
Short

USD/JPY - Bearish Cypher Pattern

FX:USDJPY   U.S. Dollar/Japanese Yen
On the USD/JPY             1h chart we have a potential short opportunity at the D leg completion of a Cypher Pattern .

The price reversal zone on this pair is between 122.809 & 123.460
The PRZ zone is only a guideline of where we will be paying attention for trade setups and opportunity's.

Potential targets for the Cypher Pattern placed at the .382% and .618% retracement of the C to D move.
Stop loss would be placed above X leg structure resistance .

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OsamaAbouzeid
a year ago
Good work , I stopped out yesterday as FED rate hike !
USDJPY_ When the Trend and harmonic move become identical !
+1 Reply
TomHall TOP OsamaAbouzeid
a year ago
Aslong as you stuck to your rules mate it is still a good trade.
Keep up the good work.
Reply
OsamaAbouzeid TomHall
a year ago
Indeed , discipline is the key for be keep survive in this amazing mess!
+1 Reply
TomHall TOP OsamaAbouzeid
a year ago
That's it mate, trade what you see and not what you think :-)
+1 Reply
TomHall TOP
a year ago
This trade is now live.
Reply
GetRichOrDieTrading TomHall
a year ago
How did you decide to enter? The pattern didn't complete yet?
+1 Reply
TomHall TOP GetRichOrDieTrading
a year ago
You must take into account the spread of the broker, so you would set your entry a little bit below or above depending on if it is bullish or bearish pattern.
Also the entry from chart to chart can vary meaning it may look a little different on Ninja Trader or MT4 ect
+1 Reply
GetRichOrDieTrading TomHall
a year ago
Thanks a lot for your quick answer!
+1 Reply
TomHall TOP GetRichOrDieTrading
a year ago
My pleasure, have a good week.
+1 Reply
GetRichOrDieTrading TomHall
a year ago
My general approach would be to wait for RSI to be > 80 and then sell the pattern in an overbought setting, was just curious how you decide to go with it except for pattern completion.
+1 Reply
TomHall TOP GetRichOrDieTrading
a year ago
There are many other things I look for when trading a pattern.
The RSI is a great tool that i utilised, however there are other indicators and simple price action methods to predict entry.
Reply
GetRichOrDieTrading TomHall
a year ago
Have a good week too!
+1 Reply
cash0032
a year ago
Just entered this trade. I needed extra reassurance of a reversal before I entered a short.
Tom, I would like to personally thank you for doing everything you do. You help smaller traders like myself learn tremendously. Thank you!
+1 Reply
TomHall TOP cash0032
a year ago
That's great, best of luck.
Really appreciate the feedback it is much appreciated.
Reply
TomHall TOP
a year ago
Target 1 & Target 2 attained
Reply
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