Nico.Muselle
Short

USDJPY - Textbook Bearish Cypher pattern at structure

FX:USDJPY   U.S. Dollar/Japanese Yen
9 months ago
An almost perfect pattern is very, very close to completion and it's a beauty, textbook cypher pattern .

Why ?
AB leg retraces to 0.382 of XA-leg
BC             falls perfectly in between 1.272 and 1.414
CD completion at 0.786 has perfect Fibonacci confluence (see chart)

On top of that we have a previous support level that has already proven resistance in the past just above it.

As with most Cypher patterns, the RR ratio for TP1 is inverted (risk is bigger than potential profit), but as Cypher patterns in general are quite successful, it is definitely worth it. TP2 has an approximate 1.5 RR ratio.

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9 months ago
Comment: TP1 reached, stops can now be moved to break even - experience a risk free trade.
9 months ago
Trade closed: target reached: Sweeeeeeet
BLUE43 TOP
9 months ago
cypher can be, but on double bottoom + divergence + strong up trend, do you will enter in this trade ?
Reply
Nico.Muselle MOD BLUE43
9 months ago
Yes, as I am just looking for a small retracement, not a break below that double bottom on the daily chart
Reply
BLUE43 TOP Nico.Muselle
9 months ago
ok
Reply
I'm on this one too, however I'm going to jump in a little higher.
snapshot
+1 Reply
Nico.Muselle MOD AndrewFx2020
9 months ago
Good stuff, thanks for sharing your view ! I should be safe with my SL placement, but one never knows, the market decides without asking our opinion ;)
Reply
ender.genom
9 months ago
to early for down)
+1 Reply
Nico.Muselle MOD ender.genom
9 months ago
Thanks for your comment. Too early based on what ? Do you have a chart to share which indicates it's too early ? Looking forward to see it :)
+1 Reply
ender.genom Nico.Muselle
9 months ago
Some fundsignals for waiting.
Current techsignal vision on pic http://savepic.ru/8815564.png
+1 Reply
Nico.Muselle MOD ender.genom
9 months ago
I see, we'll just have to see where the market will take us. Good luck ! :)
Reply
tengkuger
9 months ago
maybe reach 114.35 and then retrace
+1 Reply
Nico.Muselle MOD tengkuger
9 months ago
It is possible ... the market does what it wants to do, all we can do is try to anticipate and pick some grains of profit :)
+1 Reply
nacho_sebastia
9 months ago
wich porcentaje of your position you close on target 1 and wich one in target 2 ? nice trade buddy
+1 Reply
Nico.Muselle MOD nacho_sebastia
9 months ago
Thanks ... for harmonic patterns I always take off 50% of the position off at TP1 and move the stops to break even. Let the rest of the position run to TP2 or trail it using structure.
+1 Reply
J_Graystone PRO
9 months ago
Nice Nico!
+1 Reply
Nico.Muselle MOD J_Graystone
9 months ago
Thanks Jason ! :)
Reply
vrcnicholas
9 months ago
Good trade
+1 Reply
Nico.Muselle MOD vrcnicholas
9 months ago
Thanks !
Reply
KamalFX
9 months ago
Nice trade Nico, I managed to get in this one too. Reading the comments above clearly shows the importance of us trusting in our own analysis as trading isn't a team sport haha.
+1 Reply
Nico.Muselle MOD KamalFX
9 months ago
Hehe, you got that right ... always follow your own trading plan ! :)
Reply
Shifattey
9 months ago
Miss it
+1 Reply
Nico.Muselle MOD Shifattey
9 months ago
No worries, there are always other opportunities. :)
Reply
adilnaqvi00786
9 months ago
Nice but missed that
+1 Reply
Nico.Muselle MOD adilnaqvi00786
9 months ago
The market never sleeps, so new opportunities will come along ! :)
Reply
arturt Nico.Muselle
9 months ago
great job Nico. i didn't expect that to be that fast. :)) amazing job with that pattern, easy to watch but difficult to make:)
Reply
Nico.Muselle MOD arturt
9 months ago
Thanks buddy ... :)
I did not expect it to be that fast either with the price action we saw during the day today ...
Reply
arturt Nico.Muselle
9 months ago
exactly, it looks like surgical operation:)
+1 Reply
Nico.Muselle MOD arturt
9 months ago
Luckily nobody's life is depending upon it :D
Reply
arturt Nico.Muselle
9 months ago
lol
Reply
ChrisChristy
9 months ago
Nice call :)
Reply
StarProsper
9 months ago
Pain-free trade Nico - Nice one :)
Reply
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