Akil_Stokes
Long

USDJPY: Potential Bullish Advanced Cypher Formation

FX:USDJPY   U.S. Dollar/Japanese Yen
Happy 1st official NFL             weekend to you traders! During halftiem of the Cowboys v. Giants game I decided to perform a quick round of analysis to see if anything needed to be watched prior to my trading week and I actually found a handful of pairs that interest me.

One of which is the USDJPY             where we have a potential bullish Advanced Cypher formation in the works, looking at a "D" completion at the 101.75 area. Also if you look left...and even lefter, you'll notice the previous levels of structure that we're coming in to.

For those who have a weekend left I hope you enjoy the rest of it and hopefully my Cowboys can pull off a win tonight, and my Toffes can earn 3 points and climb to second on the table tomorrow.

Akil
Trade active
Trade closed: target reached
Trade closed: target reached: Secondary targets smashed. All Flat. Good trade gang!
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left, lefter, the leftest! :)
+1 Reply
I like, i like! "look leftest structure leaves clues"
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Bearish divergence RSI on 4H
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Wallstreet_CCCC Wallstreet_CCCC
Oh sorry, wrong here haha, I meant USDCAD :)
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nice! the pattern did materialize! However, it went beyond 88.6% as well. Can we also treat this as a bullish shark pattern? When do we say if it's going to be a cypher or a shark pattern?
+1 Reply
Akil_Stokes PRO gadzmustbecrazy
The 88.6% has nothing to do with the Cypher Formation, but referring to your shark question, I'm not too familiar with that pattern formation so you may want to ask that question to a different trader. Sorry, it just wouldn't be right to give any advice on something I don't know.
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Perfect!!
+1 Reply
Akil_Stokes PRO Loizosantonas1
Thank you
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Akil_Stokes PRO imdbesttrader
Thanks for sharing your idea!
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