UPDATE #2: Stop loss hit. All positions are now closed on this trade.
UPDATE #1: Trade is active now. See the chart in the comment section below for exact entry price.
Hello Traders,
It's been quite some time since I've posted any new idea, especially in Forex. That's mostly due to the situation in Greece and the uncertainty that it has caused in the...
We have a potential Cypher pattern in line with the overall trend direction.
I would love to hear your opinion, feel free to comment, agree or disagree.
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Ok. The bear crab is completed but not the cypher....yet. Keep in mind that crab patterns tend to complete aggressively and not surprising that prices will move into the crab's PRZ and sometimes deep into the PRZ. I added the crab PRZ here and yes, it is kinda large. but the reason for it is to illustrate that I'm actually looking to the cypher to place my SHORTS....
Sideways consolidation offers good harmonic trading opportunities for some quick (relatively speaking of course) profits. Here are 2 patterns: 1 a bull bat waiting to complete and one a bear cypher also waiting to complete.
Can buy on the bull bat completion and ride that up to the bear cypher completion OR after bat completes, go LONG and take profits...
WE HAVE TO BEARISH CYPHER PATTERN COMPLETIONS HERE.
THE BIGGER ONE IN GREEN HAS ALREADY ACHIEVED TGT 1 AND MISSED OUT ON TGT 2 TO BE TAKEN OUT AT BREAK EVEN.
WE HAVE ANOTHER SMALLER CYPHER PATTERN COMPLETION YELLOW THAT IS MUCH MORE VISIBLE ON A H4 TIMFRAME.
STOPS ABOVE THE X LEG
TGT1 0.382%
TGT2 0.618%
Despite going 0 for 2 (with 1 breakeven) in my swing trading today, I was able to nail both of the trades taken during Tuesday’s Live Trading Room session. It also just so happened that both of the trades taken were on the same pair and occurred right after each other. This doesn’t happen on a regular basis, but often enough for me to understand exactly how to...
UPDATE : The bullish Cypher I had posted about earlier has now been completed. Can take trades now. I am long from the D point at 0.76080. Targets are on the chart.
UPDATE #2: NFP caused prices to dip a little bit more into the PRZ but did not take out this trade. Now looking to reach Target #1 today. Will update again if/when it does.
UPDATE #3: This cypher...
Hello and good morning traders, I hope you're all doing
well in this weeks trading.
I've analysed a Potential Cypher Pattern setting up within
the Gartley we are also watching and we could be potentially
hitting the 97.00 just in time for the NFP figures coming out.
If they are to perform weaker than expected, then we can see
a potential move to the downside...
Here we have yet ANOTHER bullish cypher that might soon complete. This is on the tail of the previous bull cypher that I had identified and that gave a nice quick +79 pips profit (see "AUDUSD: Dueling Cyphers and All That Jazz! Top-down analysis.... " post)
As with most of my analysis I do, I don't just try to give out the pattern but also the reasons why I think...
UPDATE #3: Stop loss has been hit. All positions are now closed.
UPDATE #2: Trade is active !!
UPDATE#1: Just a reminder that we have 2 high impact news coming out of US today (Thursday, July 2nd), Non-farm employment change AND Unemployment Rate. They are very much likely to affect this trade setup. They could either complete OR invalidate this setup OR do...
When checking out the USDJPY this morning, the first thing that I noticed was rotation in then tend. After getting rejected on a gap fill the market dipped lower breaking previous support and giving us a new structure low. As price action shows some relief and retraces back I was looking for an opportunity to get short as close as possible to previous structure...
There is a bull Cypher that will soon complete and should trigger a move up to complete the wave 5 of the large rising wedge consolidation wave that this pair is currently in.
OVERVIEW
GBPUSD has been in a very long sideways consolidation for 6+ years! By my wave count, this flat consolidation wave is unfolding in a complex double zig-zag ABC-X-ABC pattern. We...
Price is heading up towards a medium term resistance trendline. At that level we find the 0.786 point of XD of a bearish cypher pattern.
Key Resistance Level:
I'll have to admit that this pair had me scratching my head for a while. Until I finally sat down and did a thorough top-down analysis on it to see what the big picture was. But first, since my headline is what probably caught your attention and is the reason why you are checking out my chart, I'll explain about that first.
Currently, I have spotted 2 cypher...
