Many of you have PM'ed me asking about what's going on with this pair after I made another very accurate prediction back 2 months ago that we were going to see a plunge happen! (see this post: https://www.tradingview.com/chart/USDJPY/8ESrfYhG-USDJPY-Possible-HUGE-MOVE-Is-Coming/ IF you had listened to me, you would at this moment still be in profit by +450 pips. ...
We have a completed Cypher Pattern that has pushed beyond the entry point, which in turn give me a better R/R factor. This is not a signal, nor should you take this idea for anything but an idea. I am in no position to tell anyone what to do. I only want to create discussion, and to train my eye.. Good luck to everybody in the markets.
Wheat RSI has floored. Elliot wave 1-5 complete, and wheat is still trying to sell itself off of a bearish flag. There is an outside chance of this becoming a Shark. More likelihood a Bearish Cypher. If up trend forms, looking at 430'4 and then 444'2. After 452. This could also fall more into extension in which case target numbers may change.
On the GBP.USD 1hr chart we have 2 potential trade opportunity's at the D leg completion of bearish Bat & Cypher setup. Bearish Cypher Setup ( White ) - D leg completion 1.2872 Target 1 - 1.2827 Target 2 - 1.2798 Bearish Bat Setup ( Blue ) - D leg completion 1.2883 Target 1 - 1.2835 Target 2 - 1.2804 Please trade this setup with caution.