XAUUSD: Potential Bearish Cypher Pattern

FX:XAUUSD   Gold / U.S. Dollar
IF XAUUSD             rises THEN we'll have a bearish Cypher pattern completing up at 1215. We also have a harmonic move ( ab=cd pattern) with some fibonacci confluence around the same level)

Akil Stokes
Chief Currency Analyst
Nice trade set-up Akil!

However, I personally will sell if price goes to the 1.13% level (Shark pattern).
There is a confluence with a trendline of the 2 previous high :)

Keep it up!
+2 Reply
Akil_Stokes PRO Trading_an_Edge
Akil_Stokes PRO Trading_an_Edge
Question for you, I've never really messed with the shark pattern. Do you use a specific entry point consistently, or do you have a range? I've always had an issue with the pattern because the completion range (on the traditional rules) say it can complete either above or below structure. I'm not criticizing you trading the pattern just curious because I've never really looked into the pattern
Trading_an_Edge Akil_Stokes
Well it all depends on price action, in this situation, the confluence with the trendline make me think that the probabilities would be higher if prices reach the 1.13% level. But in any case, I will use a price action trigger to enter (like a pin bar, inside bar, etc...).
In general I will never watch a set-up on the 88.6% level because of the poor risk-reward ratio.

Hope its all clear :)

Happy trading!
+1 Reply
Akil_Stokes PRO Trading_an_Edge
Thanks for the explanation
Im starting harmonics this months and i like this trading system. One question: We have no candle closing below the C point. Is that condition met here?
Akil_Stokes PRO FullTimeTrader
We don't need a close below at the c for it to be valid
Looks Good Akil. Thanks for sharing and Good Luck!!
+1 Reply
Akil_Stokes PRO moneymaking
Hey Alks,
yehp..i think gold's about to break out..dont know how big the breakout is but seeing your cycpher confirms where I think the price will head to in the short term :)
It could roll over before it hits our sell limits I can see.
Akil_Stokes PRO Talk_Forex96
That is certainly true.
PipIndex: Goldremainsinabulishposture.Therearesomestrongresistancelevelsjustabovewhere
EurozoneandnowChineseslowdownislikelytokeepGoldinteresting. (Sorry for this faulty paste, hope you can read PipIndex's prediction)

Hey Akil don't know if you remember me but you helped be get on the syndicate for $1 a couple of days ago and I honestly love every bit of it!
I was wondering if you could have a quick look at my trade set up and quickly comment on it if you have the time. Feel free to suggest any ideas you have even if it means strapping my idea and starting fresh again haha. Thanks buddy
+1 Reply
Thanks for joining, and i'm glad you're enjoying the content. Unfortunately I can't honor you're request as I don't analyze charts for traders outside of those who I work with personally through my training course. If I were to do this for you, I would feel obligated to do so for everyone else that requests it and that would just be too much more me. I hope you understand.
LAMBO77 Akil_Stokes
Akil I fully understand bro and I appreciate it.
Ok so how do I join your training course so as to get your insights as well as fellow students insights?
All of the info for our training courses are on our website. The one I run is called the 12 Week Transformation Course. Here's the link for details on the course. If you have any questions feel free to shoot me an email at Akil@TradeEmpowered.com http://promos.tradeempowered.com/transformation/
+1 Reply
LAMBO77 Akil_Stokes
Thanks Akil, much appreciated :)
I don't mind answering a specific question if you have one , just not a full blown analysis
+1 Reply
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