THE EURJPY HAD BOUNCED @ A MAJOR STRUCTURE SUPPORT, LETS SEE IF WE CAN CONTINUE TO THE UP SIDE. A CYPHER IS UNDER WAY FOR TRADERS, I AM WATCHING THIS CLOSELY. GOOD TRADING GUYS
I AM A BIG BELIEVER OF EVALUATING EACH PATTERN AND TO MAKE SURE IT MEETS YOUR RISK PROFILE. LOOKING AT BOTH THESE PATTERNS, THE GARTLEY PATTERN OFFERS A FAR MORE BETTER RISK TO REWARD THEN THE BAT. REMEMBER, MY TRADES ARE TAKEN ON THE LOWER TIME FRAMES NOT THE DAILY. SO I AM WATCHING TO SEE WHERE THIS MARKET GOES. GOOD TRADING GUYS
THE WEEKEND IS HERE AND FOR ME ITS THAT TIME WHEN I DO MY REVIEW OF ALL MY TRADES AND ANALYSIS. ON MY RADAR FOR MONDAY IS THIS BULL GARTLEY. AT FIRST I SAID NO, BUT AS I CHECKED THE RATIOS IN MY RULES THIS PATTERN IS VALID. IT'S NOT THE BEST LOOKING GARTLEY BUT IT MEETS MY RULES/ LETS SEE WHAT MONDAY BRINGS
To be honest since last week, i have been back and forth looking for trading opportunities that fit my plan. However not much out there. This potential Bear cypher could be my first trade this week. Lets see where the market wants to go. Good Trading Guys
Its a new month as pattern traders we have the option of taking this Cypher pattern on the 4 hour time frame. however if i had my way and looking purely on structure, i would choose to take a structure base trade which offers a better risk reward coming of a 2618 at around 0.9311 level. however a pattern is a pattern. Good Trading Guys
As we roll mid week lets see if this gets filled. Good Trading Guys
As we come into the NY Session we could see a fill in this pending gartley pattern. In the 4hour chart we see a bear pin bar reversal candle which could indicate the we could see selling pressure.