Merry Christmas!
Its pretty rare to get a couple of cypher patterns to form so close to each other on the hourly chart but it looks like we are going to see another one pretty soon. Yesterday we had one complete and hitting target one after dealing with a little bit of pain. The way I trade advanced patterns is by moving profit targets so they are always the 38.2% and 61.8% of the...
Good risk/reward ratio. Merry Christmas!
Well earlier today we had a failed cypher pattern on the 1 hour chart for the dollar yen but I said dont stop there because we might get another attempt at one. That other pattern has set up it and has entries at 117.72. One thing you will have to look out for on this one though is the stop placement. As most of you know, the market tends to respect structure. For...
My bias is continued Dollar strength and my higher time frame analysis has USD/CAD bullish. The pair are reacting around the 1 hour support (green line). i would go long here expecting a pattern similar to the one drawn in purple
On the Eur/Cad we have a pattern that might not stand out to everyone because it is a little sloppy. It is one I that stuck out to me however. It is a cypher pattern entry at the 78.6% retracement of the X-A leg I have drawn on the chart with targets at the Fibonacci levels, 38.2% and the 61.8%. If you're a cypher pattern trader and this one stood out to you then...
MACD indicator in hourly and daily charts is showing signs of exhaustion. This could be the top of the currently uptrend. Happy trading!
It does not look like a reversal yet. Short term sell is valid. If price plays along till supports area, further price action analysis will be needed to presume if the correction continues or not. Cheers.
Weak USDJPY downtrend with increasing bearish momentum. SHORT USDJPY trade with trailing stop, currently 113.83. Stay frosty.
Due to the results of the US election the USD has been rising sharply. I believe the trend will continue to rise at around the points indicated. Good luck and good trading!
Following the trend. Trade graceously!
Made a nice profit with the last move in the related ideas. It came up again and is likely looking to hit the mark shown on the chart allowing yet another brilliant entrance for the short. Red arrow doesn't predict exact time or price, only general direction for simplicity. Enjoy.
Might be a good time to take profits from CL long trades. Price hit Resistance at 51.80. For the BOLD trader, Countertrend SHORT trade entry on CLOSE below 50.90
Monitoring it for a break i a few days
The operation would do it in the following way. If it had not entered even short it would enter around level 10630. If we reach the first target we would draw 50 pips. If the price moves according to the diagram then I would make a long entry to take advantage of the 30 or 40 pips that would give me the pullback. At the end of the pullback, he would make a second...