Akil_Stokes

XAUUSD: A 2nd Cypher Forming on the 4 Hour

FX:XAUUSD   Gold / U.S. Dollar
Shared this idea with you yesterday during my Live Trading Room hours, so i didn't have a chance to write an explanation of what I was looking at.

What we had here (in orange) was a bearish Cypher pattern completion. The "D" leg of this Bearish Cypher also happens to be the "C" leg of a potential Bullish Cypher that would complete down at $1,110.97. I got the question the other day about "which pattern occurs most frequently" and my answer was the Cypher pattern mainly because it often comes after the completion of another pattern.

It's been a pretty big week in the markets. I'm looking forward to a final day of "Good Trading" (following my rules) and enjoying a nice weekend. I'm wishing the same to you traders.

Also if you didn't hear it yesterday, make sure you check out my latest trading video where I share a Great A Success Story from a trading friend of mine. Here's the link https://www.youtube.com/watch?v=OnzLKZhfSzM the Success Story Starts at minute 10:30

Akil Stokes
Chief Currency Analyst at http://www.TradeEmpowered.com
good idea.. agree
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Great minds thin alike!
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Nice to see you here akil
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Akil_Stokes PRO sanne.hubers.9
Thanks, when i get the time i really like the community on here
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Thank you very much for informataions :)
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No problem Deniz, hope you enjoy the free training I sent your way. There's enough hours to keep you busy all weekend and maybe the one after
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Deniz Gok Akil_Stokes
Thank you you're so good :)
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Thanks a lot. I can see now how the potential bullish is going to form. Very good explanation!
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Akil_Stokes PRO Robson_Hayashida
That's great to hear, it's amazing how sneaky this pattern is when forming
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Hi Akil,

It looks like your targets are the .382 and .618 of something... is it the CD leg?
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correct
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rnelliot PRO Akil_Stokes
Thanks Akil. I was actually confusing the bearish targets with the bullish targets. One more question: do you use a hard fib-based stop or rely on structure? I have explored using the 1.13 of CD but am curious about your thoughts.
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Structure is always important, but I also take the average true range into account.
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With that being said using a 1.113 fib will often put you in that same level
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rnelliot PRO Akil_Stokes
Thanks Akil. I just joined the Syndicate. Looking forward to it! I hope to hear more at some point about how you use ATR for formulating stops.
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Thanks for joining, over the weekend, make sure you check out the Syndicate website as there are a lot of archived videos from myself, Jason's Warroom and even the mini training course. That should keep you busy until we get back to business on Monday.
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hey Akil the cypher in blue whats that called and how can i learn about it because i read up on the gartley pattern and watched your video on it and now i know how to use that but the pattern (in blue) I'm not quiet sure can you please help?

Thanks.
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The pattern in blue is a Cypher pattern as well, it's just a bullish one, while the first was a bearish one
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It's a pattern that we teach is our training courses
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olayinka PRO Akil_Stokes
ok now when i watched your video B-C doesn't go below A but on the ones on this analysis it does hence why I'm confused.. hoped that made sense? lol
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It's just a completely different pattern from a Gartley that's why
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olayinka PRO Akil_Stokes
ok thanks ill look into this in more detail don't want to keep troubling you with questions.

Thanks again :)
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No problem, just remember each advanced pattern is different whether it be gartley, shark, butterfly, crab, cypher, bat, etc. they all have their own rules
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olayinka PRO Akil_Stokes
will do! keep up the good work
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Almost got the entry =( hope it tests the point again
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Perfect Analysis Akil.. keep up..:))
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Thank you
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Good Day Akil,
Has this trade hit any of your stop loss targets?
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Des Des
or where would sl go for this trade..
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For advanced patterns all stops need to go beyond the "X" leg
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Des Akil_Stokes
Thanks that makes a lot more sense now.
by the way just gotta say much respect to you and what you do.
also all the information you provide for free on tradeempowered and to the public.

You're an inspiration and roll model in the trading world.

Well done for how far you've gotten!
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thank you, it's great to see the hard work pay off.
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now.... up or down ???
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Who knows, that's all up to the market. All we can do is wait for the next opportunity
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Deniz Gok Akil_Stokes
Yes bravo
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now up or down ???

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Hello Akil.. Nice work.. just want to ask you about the RSI indicator you use. does it really work in helping you confirm your entries?
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Thanks Yemioline, I use the RSI to help with my analysis, mainly to look for extreme overbought/oversold conditions as well as divergence. So by itself it doesn't mean much to me but it does play a role as one of the clues i look for when looking for opportunities.
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