moneymaking
Short

USDOLLAR: CYPHER PATTERN + AB=CD MOVE (4 HR) !!

FX:USDOLLAR   Dollar Index
210 5 10
UPDATE #3: Stop loss has been hit. All positions are now closed.

UPDATE #2: Trade is active !!

UPDATE#1: Just a reminder that we have 2 high impact news coming out of US today (Thursday, July 2nd), Non-farm employment change AND Unemployment Rate. They are very much likely to affect this trade setup. They could either complete OR invalidate this setup OR do nothing.

Hello Traders,

Here we got another really good Bearish Cypher Pattern and Harmonic AB=CD move, both completing near one another. We also got some Fibonacci confluence at the completion of both the patterns. The daily trend line have been respected quite well and we do expect to see some reaction from there. See the chart for more details.

Note: Keep in mind that we have high impact "ISM Manufacturing PMI" news coming out from US today (Wednesday, July 1st) at 10 am. The news can either help us complete the pattern OR it can completely invalidate the pattern !!

Please feel free to AGREE or DISAGREE with this idea. Hit that thumbs up button (top left corner of this chart) if you like the idea. Good Luck :)
Good Insight! I am inclined to say that AB=CD will finish at the daily resistance as it looks like movement towards neckline of the reverse H+S pattern is in progress. Best of luck.

Cheers.
+1 Reply
moneymaking alexicahn
a year ago
Hey Alex, Thank you. Let's wait and see what we get out of this. All the best to you as well :)
Reply
moneymaking
a year ago
UPDATE#1: Just a reminder that we have 2 high impact news coming out of US today, Non-farm employment change AND Unemployment Rate. They are very much likely to affect this trade setup. They could either complete OR invlidate this setup.
+1 Reply
moneymaking
a year ago
UPDATE #2: Trade is active !!
Reply
moneymaking
a year ago
UPDATE #3: Stop loss has been hit. All positions are now closed.
Reply
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