I just successfully traded a bull cypher that had X just one spike higher as you can see in the left corner with the C of the bear cypher being the entry. but as the one below is not triggered it stays valid. So best case would be a trigger of the bear cypher and reversing the position at the Cypher level. But markets unfortunately always do what they want...
I hope so as the deep AB retrace (which is not enough for a valid butterfly) offers an entry just above X. So Stops can be placed very near the entry. And of course I want the Cypher to be successful now and therefore see the Bat triggered.
I won`t trade the red cypher as a Stop 10 pips below X would mean an uninteresting risk reward for the trade. But I will trade both short patterns if we get up to the levels. but not in case if we get a gap past the entry level. In such cases I don`t activate the orders after the market opens
but as there is no defined C for the Cypher yet this will only be the case if the Bat is a successful trade. So the Bat is probably next, I hope we don`t reverse few ticks about the entry. A Gap down below the Bat entry after the weekend would make both patterns invalid for me, as > 70% of patterns with a Gap past the entry fail...
currently we are sitting on a strong support level and I am thinking of getting long right here. but if we break down this Cypher could come into play.
Ii called it a psuedo-cypher because it doesn't exactly fit the ratio for a cypher, however if completed it's still present a nice trade opportunity. I'm watching the pattern along with the channel that has developed, a penetration of this channel line lower will put me in play for the pattern while a penetration upwards will negate this set-up. Let's see how it...
Do we see a Counter Move to the very bearish Trend from one of these 3 Levels? The yellow one is a Cypher the violet one is a Bat The blue one is a Gartley with D= 1,27 AB (Gartleys can be also traded with D= 0,786 XA, this one would come 10 pips below the Bat) Green Box shows a big potential Reversal Zone.
there could be a few places where price action reverses in case we go down. Each Pattern has a statistical chance of > 50% and a risk reward better than 1. If you play just a big enoug number of these patterns you should be like the house in the casino and consitantly make profits, sitting on the other site of the table as the gamblers.
waiting for proper confirmation of a reversal, can pick up just about 40 pips on this move.
i've been following this pair on the hourly time frame for some time now, and notice some inconsistencies occurring, so i went to the higher time frame and saw this setup. currently the price is trading at a strong support level(support because i'm viewing the overall structure bullish trend) so if price break past this level, i'm looking for a reversal at the...
I won`t trade this one, because of the Risk reward being too close to 1. Due to my MM rules and the big range I would only be able to shoot for target 1 at 0.382 and with slight frontrunning orders + target adjustments to the real ranges, the actual risk reward probably goes below 1. Therefore I pass on this one, but GBP offers better Cyphers on other pairs...
I hope to get a chance to enter this trade. Due to the huge Pattern range I would only shoot for Target One and give it some room to settle, placing the stop few pips below 1.58 so that the Risk Reward is still above 1.1
The Bat is also a Gartley, with D = 1.27 AB... but first price has to go above B of course... I like this one...
Some days ago I published a similar idea () which still looking good picking up more significat "pivot points".
PREVIOUSLY I HAD A STRATEGY TESTING ON THIS PAIR WHERE I WAS ABLE TO PREDICT 4 TARGETS IN THE FUTURE, HOWEVER, MY FIFTH AND FINAL TARGET WAS A BIT DELAYED BY THIS PATTERN THAT IS DEVELOPING. I DON'T FULLY UNDERSTAND HOW TO USE TRADING VIEW AS YET, BUT WHERE THE ARROW STOP IS NOT MY TARGET. MY TARGET IS LOWER, BUT AS USUAL I WON'T USE ANY LIMIT FOR THIS ONE, I...
Nothing fancy here just a plain and simple bearish Cypher on EURJPY (This is a 4hr pattern, I decided to show it on the hourly chart because I went down to that timeframe for further analysis. But if you're a 1hr trader only THIS IS INVALID) . However if you've been following along my recent string of post on this pair (either in here or in the Syndicate) then you...
2618 setup is completed in H4. Price has overshoot 61.8% level and touched 78.6% level (which is a better price to enter). Having said that, of course, there is a risk that price may just continued to fall and take out the lows of the double bottom. Another confluence for this trade is the buying opportunity here is in line with my earlier idea (see link below) -...