XAUUSD: Bearish Cypher at Structure. A Multi-Timeframe Look

FX:XAUUSD   Gold Spot / U.S. Dollar
Potential Bearish Cypher pattern on Gold             Hourly completing at $1,102,47. The lower chart takes a look at the higher timeframe (240min) where previous structure support turned resistance rests along the same area as the potential Cypher pattern . No Live Room on Monday's but usually this would be the type of situation where we zoom down to the lower timeframes and see if there is any opportunity to catch the move before the move. Especially with this current price action.

No youtube video last week, but as always I did write a brief article recapping my trading week.
"Trading Recap Week 46: Are You Getting Enough Reps?" http://goo.gl/E0Cp7H

And before you go, do me a favor and SMASH THAT LIKE BUTTON!

Akil Stokes
Chief Currency Analyst & Trading Coach
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HI Akil. Nice one! I guess it will go to $1116-1120 area before coming back down towards 1040-1050 level.Lets see.
Just wanted to confirm this rule. Its a valid cypher as long as Fibonacci Retracement of A2X doesnt have a candle below 1.414
Hello Akil and Traders , what i saw was to trade the Gap first of which i shorted at 1091.00 an was just stopped out at 1085 for a very nice profit , As marked on my chart my eyes are on the Target's for a Buy.

johnmad johnmad
tigrand1 johnmad
Same for me Johnmad on a 1hour chart we just had a indecision candle and now potential bullish candle. so it seems for me also a buy opportunity. it would be 120 pips
Like button smashed :)
+1 Reply
Akil_Stokes sketchmaster
Heck yeah!!!
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