Price is trying to fight a resistance level but seems to have less and less buyers involved, reason why we see the BBP divergence. RSI diverges in the same way so a downward move is more likely than a move to the upside.
I would enter this opportunity @ market with
SL > 0.6470
TP 1 = 0.6370 (0.382 retracement of last move up)
TP 2 = 0.6320 (0.618...
FX:USDCAD
61.8% retracement monthly chart reached;
Point C for an eventual Cypher forged inside the validation zone, between 127% extension and 141% extension and showing signs of a retracement;
Four targets:
The first one right above the previous structure high, the 38.2% retracement;
The second one, the 61.8% retracement still inside the previous structure...
For more than a month now, $USDJPY has been trading inside a 200 pips range, between 119 and 121.
We've seen this pair stuck between 119-121 in the past (last time it was for two months between mid March and mid May) and the result of the breakout was a 600 pips rally towards 127.
In which direction we should expect $USDJPY this time? Will it happen today...
MY ASSESSMENT: THE TOP IS NOT IN!
USDCAD has been pretty difficult to predict lately. This is because of the fact that EVERYONE seems to be trying to catch what many are assuming might be the TOP of the current larger uptrend. There's a lot of back and forth going on as is usual when such speculation is occurring. Bulls and bears are fighting it out. So I have...
A very nice setup here, trader. We had a series of impulses in downward direction. This is the definition of a trend. then we had a most resent HL violation to the downside. This is the defenition of the sign of reversal. And instead of continueing moving upward installing other upward impulses priceaction makes a new structure low. This is the classic defenition...
BITSTAMP:BTCUSD
Short @D
CYPHER :
Point B:
38.2% to 61.8% XA
Point C:
127% to 141% ext XA
Point D:
78.6% XC
Target:
TP1 38.2% CD
TP2 61.8% CD
Safe Trades;
open.spotify.com
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...
Hi All, I wanted to share this Bullish Cypher Pattern we have here on USDCAD
Same as usual we have entries at 78.6%
Stops marked Red Line
Targets will be the Standard 38.2% and 61.8% and will be adjusted until D completion.
Also looks to be Head and Shoulders Pattern
Good Luck Happy Trading
FX:XAUUSD
Target the 38.2%
CYPHER :
Point B:
38.2% to 61.8% XA
Point C:
127% to 141% ext XA
Point D:
78.6% XC
Target:
TP1 38.2% CD
TP2 61.8% CD
Safe trades;
open.spotify.com
Earlier in the week I shared with you my idea for a potential bullish Cypher pattern here on the USDJPY and as you can see price action has yet to reach the “D” completion point. In Tuesday’s Live Trading Room session we were able to capture some profit on a long entry as the market retested the Cypher “B” leg and now price action looks to be retesting that zone...
On FX:NZDUSD we have a nice potential cypher pattern. Our stops go above the resistance level 0.6330, this level is pretty nice. And our targets will be fib 38.2 and 61.8. As we see price has broken structure level of B leg and now wait the pattern completion.
Avto_T
Green Luck
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So after hitting for +374 pips on the last trade I made on this pair, the question now becomes: What next? So here I am showing what I am seeing as the next possible move which would be a wave (C) up to complete the wave (4). Then we should see a significant wave (5) down.
I'm thinking that the wave (B) should end just around he 70 cents level where there is a...
In my last trade on this pair (see Related Ideas: "CLOSED: TRADE: EURUSD: BUY@1.11660 15M Crab (-15 pips)") in which I lost -15 pips, I said, "Now will just wait for signs of bullish price action again for another possible entry into the cypher trade. There is ALWAYS the possibility that the cypher will not trigger any reversal and prices will keep heading down so...
Trade was closed when prices broke below the crab's A point. Took a -16 pips loss. Now will just wait for signs of bullish price action again for another possible entry into the cypher trade. There is ALWAYS the possibility that the cypher will not trigger any reversal and prices will keep heading down so this is why I kept the stops so tight. Must remain PATIENT...
