eXcess0070
Short

EURJPY cypher pattern

FX:EURJPY   Euro / Japanese Yen
Well this pattern has a iil bit of a conflict involved with structure, I'm a pattern trader but I choose my patterns based on structured directional bias, the pink pointed line shows a lower low - lower close from a higher timeframe validating the continuation of the downtrend, I took advantage of the first cypher pattern in blue, the momentum in that particular moment was very bearish , and structure was telling me to sell, now I'm not so sure about the yellow cypher becouse its clearly that a big pullback is happening,

due to my rules of engagement I MOST take the yellow cypher , so my pending orders are in place, but I woudln't be surprise if the price desides to go meet the red zone ( previus support turned resistance and testing the 200 SMA )
or even go straight north forming a bigger pattern.

So my advice in this type of situation, JUST WAIT AND PRAY :) Consistance is key. follow your rules no matter what. and you'll be fine.

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