Having traded CL, GC, USDJPY I recognized similar movements into zones, I now wonder if they correlate in any way
Price Pattern Trader - TradeEmpowered
Analyzing the high timeframes 240min, 60min, 12range and executing in a trading timeframe 233Tick.
Watching #AUDCHF looking for ideas IF PA breaks below structure blue-line or IF it bounces upside.
IF price bounces will wait and see if a 2-618 trade appears (618 retracement of dbl top).
IF price breaks below then looking for a retrace and retest of structure for a possible #Short.
IF price continues to break below then looking for B-C leg turnaround at 1.27 ext.
Looking for a #Short, predicting continued downside movement in this channel, justified a reversal zone in grey where Fibs, Harmonics, Structure meet.
With a combined technical score of 8 went #Short at 1.3200 flat.
IDENTIFY: AUDUSD cypher shaping with good ratios & confluence, bounced off upside structure without argument.
PREDICT: May get a small retrace around 0.758's on way to completion, looking for a bounce off historical structure. Killzone has 2 levels of structure thinking this is ample protection for stop.
Targets set at structure levels
After a broken pattern, plan B materialised after a long wait. After 7 retests of historical structure PA boost hitting Target1 in a flash, caught off guard I had no Target2 defined - myBad.
Dang that was exciting !
Brewing for 3 days PA broke downside in the biggest way hitting Target 1 & 2 in one swoop.
Best trade to date, followed the plan, more importantly was patient (what a breakthrough), becoming TradeEmpowered.
Watched this impulse leg descend and retrace from Monthly High to setup this Cypher.
Looking left there's a lot of white space, historical structure not really tight to this pattern, looks like a recipe for a StopOut .
There's better structure supporting the C-D leg, think there's more case for a Long after an outside return and trade the CD leg.
A 2 day trade where the DSR's laid out the trade plan, PA steamed thru target1 and about to hit target2 both substantial DSR traced from historical levels.
Tech score at execution:
1=Trade is following bear trend
1=D completion point has 786 & 886 confluence
1=D completion at DSR
1=Final impulse harmonic ending at DSR
1=RSI at overbought