Since its meteoric rise during the week, Ripple has moved into a consolidation period. Those looking for a continuation of the prevailing uptrend should be waiting for a breakout to the upside and a follow-through move to $1.00 a Ripple over the next week.
A breakout trade could be used with a pending buy stop order placed at 0.7890, stop loss at 0.6950, and...
Bitcoin has grinded its way back to the 61.8% fib retracement of the fall from ATH to the recent lows of 5550. The 61.8% also happens to line up with previous support and the psychological level of 7000. Would not be surprised to see a move back down into 6000 and lower over the next few days.
If 7000 does not hold to the upside 7200-7400 would be last bastion...
There is a bullish bat pattern forming on EURJPY, H4 timeframe.
Entry Point: 130.010
Stop Loss: 129.250
1st Target: 131.650
2nd Target: 132.700
I close half the position when and if, after entry, price moves up to the 1st target. At this time I also move the stop loss just above the entry point to ensure some profit.
There is a Bearish Bat Pattern on USDJPY H4 timeframe with D completion at 116.850. See trade details below.
I have detailed the fibonacci levels for each point on the chart for your reference/learning.
Target 1: 114.900
Target 2: 113.640
Hope everyone is having a good month so far!
There is a bullish cypher pattern on USDCAD H1 timeframe with D completion at 1.30300.
Entry: 78.6% retracement of XC (1.30320)
Stop: Below X (1.29700)
Target 1: 38.2% retracement of CD (1.30980)
Target 2: 61.8% retracement of CD (1.31400)
There is a 2618 trade on EURJPY with price sitting right at the entry point. This is a countertrend trading setup in which we are looking for the market to move down again to below 120.00.
Stop loss: 124.200
Target 1: 120.600
Target 2: 119.680
Our stop is placed above the high of the double top because at that point the probability of the trade...
There is a bearish cypher pattern set up on the H4 chart on AUDUSD with D completion at 0.76430.
Trade details below.
Entry at D completion - 0.76410
Stop above X point - 0.77850
Target 1 @ 38.2% retracement of the CD leg - 0.74650
Target 2 @ 61.8% retracement of the CD leg - 0.73500
If price reaches target 1 I closed half my position and move my stop to entry....
Merry Christmas and Happy New Year!
Have a safe and enjoyable new year period, and I'll see you all back here on Trading View fresh and ready to go for another great year trading in 2017.
P.s. Thank you to all who have contributed positively to the community this year!
There is a bearish Cypher pattern on NZDUSD H1 timeframe with D leg completion at 0.71990.
Target 1: 0.71690
Target 2: 0.71500
This is how I manage a trade like this.
1) Set pending sell order a few pips below D completion (to improve likelihood of being filled)
2) Set stop 10-15 pips above X
3) Set profit limit at the...
There is a BULLISH BAT on USDJPY H1 timeframe with D leg completion at 111.740.
Target 1: 112.880
Target 2: 113.600
This is how I trade a bat pattern.
1) Identify pattern completion point, D.
2) Place an entry order just above completion point.
3) Place stop loss around 10-15 pips below X.
4) Place profit target just below the 61.8%...
There is a Bullish Bat and a Bullish Cypher pattern with D leg completions in a very similar area on AUDUSD H1 timeframe. Both patterns will complete just below 0.74. Fibonacci levels have been left off the chart are it would be very confusing and overlapping with 2 patterns so close together.
Target 1: 0.74330
There is a BULLISH CYPHER pattern on AUDUSD, H1 timeframe.
Target 1: 0.74340
Target 2: 0.74570
To understand how these points are identified, all the key fibonacci levels have been left on the chart.
We have a bullish Cypher Pattern setting up on AUDUSD with D leg completion at 0.73510. See below for trade details.
I have marked the key Fibonacci levels in yellow for your reference.
Target 1: 0.74050
Target 2: 0.74400
If you have any questions let me know.
Here we have a bullish cypher pattern with d completion at 1.05540. I have my orders in ready to go. Read below to find the trade details and a step-by-step process of how you can trade the cypher pattern.
Target 1: 1.06010
Target 2: 1.06310
1) Identify the X leg by looking for an 'impulse', or in other words a strong...
There is a bearish cypher pattern setting up on Euro with D leg completion at 1.06960. The spike during Asia today nearly made it to the completion point, but not quite, and we're still waiting for the trade.
See below for the entry and exit prices.
Target 1: 1.06330
Target 2: 1.05900
Hope this helps!
There is a bearish bat pattern setting up on Pound with a D leg completion at 1.26300.
See trade details below. I always know my entry and exit prices BEFORE entering a trade, consistency is king in this business, assuming you have an edge ;)
Target 1: 1.25110
Target 2: 1.24330
Have a great week of trading!