moneymaking
Long

XAUUSD: BULLISH CYPHER PATTERN (4 HR) !!

FX:XAUUSD   Gold / U.S. Dollar
803 26 16
UPDATE#3: The breakeven stop loss has been hit. All positions are now closed for this setup.

UPDATE#2: Target #1 achieved, stop loss moved to break even.

UPDATE #1: Still no conformation from price action. Waiting on the sidelines for now.

Hello Traders,

Here we have a really good bullish cypher pattern that has already completed. Usually I enter at the 78.6% fib retracement level but in this case I am willing to wait a little longer, so that I can get confirmation from the price action. This will also allow me to reduce my risk on this setup, if the market comes even more deeper into the cypher pattern . So for now, I am on the sideline and waiting for good conformation. See the chart for more details.

Note: We might also be getting a potential double bottom at the 78.6% level. Watching this level very closely.

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 :)
Thanks for analysis.I already had an eye on gold your analysis just confirmed my thoughts.
+1 Reply
moneymaking TahirAli
Hey Tahir, Awesome. All the Best :)
+1 Reply
TahirAli moneymaking
Thanks and same for you.
Reply
Hi, we're on the same page, except that I want to take your target level for a short.
+1 Reply
moneymaking IvanLabrie
Hey Ivan, Interesting. I would love to know your take on this pair.
Reply
IvanLabrie PRO moneymaking
I'll post my updated chart later, or tomorrow. Probably ripe for a sell before NY opens.
+1 Reply
moneymaking IvanLabrie
Awesome, Thank you :)
Reply
UPDATE #1: Still no conformation from price action. Waiting on the sidelines for now
Reply
TahirAli moneymaking
Same here.I think we have to wait until next week to see something happen.
+1 Reply
TahirAli TahirAli
I just closed all my positions with $1100 profit.
Hope you doing great in this trade too.
+1 Reply
moneymaking TahirAli
Hey Tahir, great job. According to the setup, the stop loss moves to break even and now waiting for the 2nd target to be hit. I actually did not took this setup because this pattern emerged on Friday and with the Greece news we had on Saturday, I took the conservative approach and stayed away from trading on Friday. Really glad to know that you were able to profit from my idea. Keep it up mate :)
+1 Reply
TahirAli moneymaking
Thanks a lot.I would love to stay in the trade but the market is so volatile right now and it can take back all your gains in few minutes thats why I closed the all the positions.
+1 Reply
moneymaking TahirAli
No problem. Just follow your strategy :)
+1 Reply
UPDATE#2: Target #1 achieved, stop loss moved to break even.
+1 Reply
GcNaif MOD moneymaking
good job guys,
+1 Reply
Thank you Gc :)
Reply
Excellent, congrats!
+1 Reply
moneymaking IvanLabrie
Thank you Ivan :)
Reply
UPDATE#3: The breakeven stop loss has been hit.
Reply
UPDATE #3:All positions are now closed for this setup.
Reply
TahirAli moneymaking
Hi moneymaking,I would be thankful to you if you please explain me how to upload a chart on this page as I am keep failing to do that.
Thanks.
+1 Reply
moneymaking TahirAli
Hey Tahir, I can definitely help you with this, I had a similar problem. I used to look at other people charts and saw other people posting their comments with their charts. So here is how you do it.

First, go to which ever chart you want to share in the comment section. Then there is a little grey camera icon near the bottom right hand corner of the chart click on that and copy the link. Then go to the comment section and write in your comment. Then to add the chart with your comment, click on the "uptrend" like icon on the top right hand corner of the "comment section". Lastly, just paste your chart link that you copied earlier and you will be able to upload a chart with your comments. I hope this helps Tahir, please do let me know if you need more help with this. All the best :)
+1 Reply
TahirAli moneymaking
Thanks a lot moneymaking for all your help.I will surely contact with you if I find any further problems and sorry for the late reply as I was fishing whole day and just came back.
+1 Reply
moneymaking TahirAli
No problem mate :)
Reply
greate
+1 Reply
moneymaking rizwanhits
Thank you Rizwanhits :)
Reply
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