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Recently ive been learning harmonics and this is a trade i came across that met the cypher pattern rules , if there are pattern trading gurus in here please could you review this trade.thanks
Currently selling this pair around the .786 fib 1.3130/50
SL just above 1.32
1st target 1.3015
2nd target 1.2950
getting ready to sell this pair around 1.3125/50 area or .786 @ 1.3131
SL 5 pips above 1.3200
1st targer 1.3015
2nd target will updating
I believe this could be a Cypher Pattern on the 15 minute chart. the bluish zone was identified and drawn on the 15 minute as well. The green zone is from the hour. It is downtrending on the DAILY. It's not a lot of pips but if it works out, it is still a profit depending on what you risk.
USDJPY Bullish Cypher pattern forming
Even though last week has been a debacle (with some moments of recovering) for our green-bill currency; it seems we are going to have a recovering week ahead.
By agreeing on several points of our checklist such as the back-testing of a daily support line, the formation of a geometrical cypher pattern, and our price action showing a perfect hammer candle on our ...
$xrp is working on a cypher consolidation pattern right now with the PRZ(price reversal zone) aligning with prior support level as well. To be traded only if the pattern completes and price shows signs of reversal around the D point, targeting the 0.382 and 0.618fibs as targets.
Possible formation of the cypher pattern for a good SHORT opportunity. Short term trade.
Here is a bullish cypher pattern. Entry, Targets, & Stop Loss:
Entry = "D" Point
Target 1 = 382 Retracement of CD Leg
Target 2 = 618 Retracement of CD Leg
Stop Loss = 10 pips BELOW "X" Point
*Close out half position at Target 1 and move Stop Loss to Break Even for remainder of trade.
I think crude oil is in the completion zone of the Cypher pattern or if this pattern does not occur we should go to see shark pattern.
also, I can see the inside bar when the price goes above the inside bar we can take a long position.
btcusd bearish cypher formation
We have a Bullish Cypher already completed, just Waiting for some type of confirmation inside the Blue Box.
Long USDJPY. TP1,TP2 and SL are set based on Fibonacci ratios.
BUY when price hits the PRZ with:
TP#1 = 38.2% retrace of CD
TP#2 = 61.8% retrace of CD
a potential bull cypher advanced formation is setting up on gbpusd.
Between 50% and 61,8% Fib Resistance
Let's go for the second Bearish Cypher on EUR/CAD?
Just waiting for a few more pips, and I already set an alarm.
EUR pairs have taken a beating lately. NFP tomorrow may give it the right kick to reverse to the upside!!
For EURCAD NFP News tomorrow could rocket price up and ignore the shoulder or we could expect resistance before the break back up to complete the right shoulder, respecting the trend.
Remember to trade your plan ...