Akil_Stokes
Short

USDJPY: Bearish TCT Cypher Pattern

FX:USDJPY   U.S. Dollar/Japanese Yen
When checking out the USDJPY             this morning, the first thing that I noticed was rotation in then tend. After getting rejected on a gap fill the market dipped lower breaking previous support and giving us a new structure low. As price action shows some relief and retraces back I was looking for an opportunity to get short as close as possible to previous structure highs. Looking closer I noticed that we actually had a bearish cypher as well and BAM that was a good enough reason for entry for me.

So this is a scenario where I’m not just looking to play this as an advanced pattern , but as a potential trend continuation trade as well.

*The "risk/reward" tool isn't quite accurate on the stop but I was rushing to get this posted before the move was made
Akil Stokes
Chief Currency Analyst at http://www.TradeEmpowered.com
Akil@Tradeempowered.com /@AkilStokesRTM
Forex Weekend Review Videos: https://www.youtube.com/playlist?list=PL3pkGkL2zWpHt7X4ZeT0w0n6hk0C8Lwx1
IvanLabrie PRO
2 years ago
I think we might see a rally emerge from here.
If you get your pullback, it might also be a buy.
Reply
Akil_Stokes PRO
2 years ago
Out for +20, breakeven on the remainder of the position
Reply
ErrolMuller
2 years ago
AKIL, CHECK OUT THIS NICE CYPHER COMPLETION I JUST POSTED. ITS A HUGE ONE BUT A VERY GOOD ONE FOR THE PEOPLE WHOSE ACCOUNT MANAGMENT LET THEM TRADE THESE BIG ONES
EURNZD D1 HUGE ASS CYPHER PATTERN AT COMPLETION
HAHA I ACTUALLY POSTED THIS ON THE WRONG PERSONS CHART
Reply
Akil_Stokes PRO ErrolMuller
2 years ago
wouldn't be one for me, but best of luck with it. My eyes just pick out a different B leg
+1 Reply
ErrolMuller Akil_Stokes
2 years ago
jip I thought of that but was happy with the one I picked. But Thanks appreciate the honesty
Reply
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