Cypher pattern completed and another cypher pattern setting up in smaller time frame. I Break this trade into 3 targets Target 1 - 38.2% retracement of the cypher pattern which also close to 78.6% D leg (Smaller cypher pattern) Target 2 - I always set target 2 at 61.8% for cypher pattern Target 3 - Other side corrective wave 4 is on progress (ABC flat...
JUST THOUGHT I'D SHARE THIS ONE, ACTUALLY WAS TRADING FROM C- D, SO GETTING THE D POINT ON SELL WILL BE GREAT FOR ME. MY C-D TARGET IS 1.618 OF 2ND WAVE, WHICH I'M ALSO USING AS A SELL ENTRY FOR A 1ST TARGET TOWARDS 38.2, BUT BASE ON MOMENTUM, I WILL DECIDE IF 61.8 IS A POSSIBILITY. SO I'M NOT SUGGESTING TO SET TAKE PROFIT AT 61.8, CHOOSE YOUR OWN TARGET.
Although we have a Bearish Cypher pattern resting right above this level, the double top on this pair still looks to be a very good shorting opportunity. A single ATR stop should get you above the structure level looking left so there's very little risk in this one when compared to the potential reward. I wouldn't expect a full blown reversal, looking at the...
Just realised there was also a completed bearish cypher pattern after my earlier posting on this pair (see link below). Few confluence factors: a) Bearish cypher b) 2618 c) Re-test of the double pin bars in weekly Based on the above, this may worth a punt. Limit order, SL and TP in chart.
Here we have a bull cypher pattern presenting itself.. Those interested, enter long at buy zone at your own discretion and using your own methods of confirmation.. Others may prefer to enter agressively at limit, just make sure you manage your risk accordingly. I chose 2 targets of my preference, moving SL to BE after locking profits at 1st target might be a good...
Brought to my attention by one of my Syndicate Members, what we're looking at is a bearish Cypher pattern. If you take a look at the recent movement of the market we've just put in a new structure low (LLLC) and the Cypher completion comes at a retracement back into previous structure along with a 38.2 Fibonacci retracement from our bigger swing. Unfortunately...
Building on from my previous post I have entered long at 1.2754 after we saw the spike up and bullish RSI. I now have structure support at 1.2751 to work from. Price touched my first target profit at 1.2771 claiming 18pips.. It's a free ride from now... Next target at 1.2786. If market breaks 1.2751 I will be returning tomorrow... That's all for today.
THIS IS VERY SIMILAR TO MY RECENT EURUSD TRADE SETUP. NICE DEFINE STOP, WITH CLEAR TARGET AT THE TOP WHERE STRUCTURE HAS FAILED TO BREAK THROUGH TWICE. I'M MORE CONFIDENT OF THIS PAIR BREAKING STRUCTURE AFTER A SHORT PULLBACK BECAUSE OF THE PREVIOUS PRICE ACTION. WE HAD 3 LOWER LOWS (LL) AND NOW A HIGHER HIGH (HH). EVEN WITH THE LOWER LOWS, THE STRENGTH OF THE...
Took a nice ride down from the double tops. Looking at 2 potential shorts and one long setup at the bigger cypher... For the cypher I want to see bullish divergence on the RSI with some structure breakout to the upside... A structure near 1.27310 would be nice with minimal risk
Wave 1 completed within wave 5 and cypher setting up. Look for bullish reversal between 0.95310 - 094959.
Bullish Cypher pattern in the 1h timeframe is completing in an potential bouncing area defined by relevant daily structure (recently broken to the upside). Action: buy at cypher completion and look for continuation.
Smaller time frames are full of noise :) Or maybe not?
Alright traders! This is the weekly chart of EURUSD. And i see a massive bullish cypher forming. This bullish cypher is about as big as it could possibly get. Long EURUSD 1.2460-70 SL below 1.2400 TP 1.2700 ===== www.ForexPositive.com Twitter @ForexPositive =====
Alright traders! This is the weekly chart of EURUSD. And i see a massive bullish cypher forming. This bullish cypher is about as big as it could possibly get. Long EURUSD 1.2460-70 SL below 1.2400 TP 1.2700 ===== www.ForexPositive.com Twitter @ForexPositive =====
Two advanced patterns completes within 4 pips from each other.
The $USDCAD had very nice rally last week. My Weekly Markets Analysis setup (from last week) made about 100 pips as it reached its target level. This week we see two completions of harmonic patterns along with daily structure zone. Will it be enough to stop the mighty dollar? This setup is part of the Weekly Markets Analysis - The trading newsletter from the...
I personally still have a very strong bearish bias on this pair and believe we have further to go. But did want to bring to you attention the presence of this large bullish Cypher. I don't trade the weekly timeframes so I'm not touching this but for CTS (Combined Technical Score) traders this is something that can potentially be used for building a case for entry...