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...
AB is ~ .382 retracement of XA BC is ~ 1.272 extension of XA D is right in the thick of some previous structure AND near a nice even number (1.2400) So the trade would look something like: SELL @ 1.1240 STOP @ 1.1270ish TP1 @ 1.1200ish (.382 retracement of CD) TP2 @ 1.1170ish (.682 retracement of CD) Risk: 30pips Potential Reward: 40pips (TP1) + another...
A bullish Cypher pattern has just been completed. You can take longs from here. I've set the targets but IMO, this pair is headed higher from around this point. There is a large bearish BAT that is potentially setting up (see my post about this: UPDATE: USDJPY Triple Bottom and 2 Potential BATs) I believe this pair is headed to at least 125.500 to fill the CD...
UPDATE#3: The breakeven stop loss has been hit. All positions are now closed for this setup. UPDATE#2: Target #1 achieved, stop loss moved to break even. UPDATE #1: Still no conformation from price action. Waiting on the sidelines for now. Hello Traders, Here we have a really good bullish cypher pattern that has already completed. Usually I enter at the...
UPDATE#2: Stopped out for small loss. Focusing on future trades setups. CORRECTION: I misspelled the second target, it should read TG #2: +709 Pips. UPDATE #1: Entry has been triggered, the trade is active. The chart above would not show this because it is a daily chart. Keep in mind that it will only show the entry being hit AFTER 5 pm (US time) !! Hello...
Bearish Cypher Have also closed iit's gap Be careful though! It's my experience that Harmonic is a bit more loose and unpredictable in Biotech. I'm in it right now Ending the day with a hammer candlestick...bullish. Sorry for the fib and Ma mess... forgot to clean it up before publishing.. Hope you get the picture though! TWUC @BLawrenceM Follow me on...
- Descending Channel - Strong Structure Level - Cypher Pattern
SHORT CYPHER PATTERN AND RESISTANCE 'UPDATE: 1. TARGET REACHED 2.TARGET BREAKEVEN
As soon as the Cypher will fill in the take profit, there will be a 2618 setup with a possibility to go short ! Frankly speaking I don't like the risk/reward ratio of this trade, so I'll enter only if the risk/reward will be around 1.5 (waiting for a better entry price) See the previous Cypher setup here:
SL little above X. TP - 38,2% Fibo confirmed by previous structures, possibly lower - to 61,8% Fibo Then the market is likely to continue the uptrend and form a possible bearish Gartley, few days probably:
Here we got another one of the infamous harmonic patterns with trend on the 4hr timeframe. This pair have been a little choppy the past weeks, so look out for how the price action is going to behave. We need an over sold RSI and a good retracement. Since this is a with short term trend we got 2 targets, i recommend to close half position at target 1, move stop to...
Here we got one more of the infamous bullish Cypher patterns in a very sideways choppy market, RSI still needs to come down a lot just as price have to, so watch out for the price action when we get more near the entry level. We got a lot of news this week so it can make for some even more choppy market conditions. Kind Regards Thomas Jeff
Entry area between 47.45 (minor support) and 50.40 (Cypher Point D) Stops @ 43.60, below X Point. There is not much structured support below X unless you go really far back and the risk becomes too great, therefore $1.57 below X should be a decent, not-too-tight, stop. Targets @ 57.73, 38.2 of CD Falling to Point D would mean a break of the long-term bearish...
UPDATE #2: Trade setup invalidated. Focusing on future setups. UPDATE #1: The current market price is a good selling entry level. This same pair has formed another bearish cypher pattern on the daily time frame. I have entered into short position based on the daily cypher pattern. Check out the daily pattern that I have recently posted, in the related ideas...
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