XAUUSD: A 2nd Cypher Forming on the 4 Hour

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 www.youtube.com/watch?v=OnzLKZhf... the Success Story Starts at minute 10:30

Akil Stokes
Chief Currency Analyst at www.TradeEmpowered.com