Market sold off heavily yesterday, thanks to BOE Governor. Market closed below key support zone 1.6700. Expect more downside towards next support zone 1.6550-1.6600. This is also the zone where the bullish cypher pattern will complete. It also coincides with 61.8% Fib retracement from the double pin swing low to the highest swing high. This looks to me like a...
It's been a great start to the trading week thus far, with a handful of Friday's patterns paying off big time. I've ended the past 2 weeks in drawdown so it's about time things get back to normal. This is a pretty simple one, a bearish Cypher which is coming up into previous structure highs. A look on the daily chart will show you this this is a powerful...
Stop loss in this trade is very less as I am taking very conservative entry.
Market found support at 1280 and bounced up. Bearish cypher pattern is in progress to completion. Potential D completion point coincides with resistance zone drawn from daily chart around 1315. This area also coincides between 50% and 61.8% retracement of the recent downswing. Will be looking to short when price action permits.
Note: The chart is EURUSD and not EURGBP. I was doing a technical analysis on EURGBP when I decided to post the chart. Sorry for the mistake. With the effect of all the fundamentals on the market probably wearing down slowly, having brought about major movements in the market, we can now see a probable bearish cypher forming. The pattern is a long way from...
GBPJPY completed Bullish Gartley Pattern and is forming a Potential Bearish Cyper pattern.. Trade both ways Up(Gartley) & Down(Potential Cypher). Happy Trading!!.
With the CAD pairs popping today some of the longer term patterns are starting to come close to completing. Bearish GBPCAD cypher set up completes at an area of structure, with the big wick on the x leg not closing above previous resistance levels. Current set-up comes off another big winner on previous bullish cypher pattern completion!!
EURGBP completed AB=CD Pattern. It might potentially form a Bullish Cypher Patter. Trade both short & long .
GBPCHF has completed Bullish Bat Pattern and is forming a Potential Bearish Cypher.. Can be traded on both ways Long & Short.
I didn't take this trade, as it was after the fact. I saw this formation and wondered if this was valid or not. The rules call for the C point to hit the 1.27 extension, which it did. The rules also call for there to be a close beyond A, which happened, but not a cleanly as one would like. I'll be sure to keep an eye on future Cypher patterns to determine...
GBPUSD is forming a Bullish Cypher Pattern. One can go long as it has minor structure support at Pattern Completion with Risk Reward defined.
This pattern filled this morning and is not sitting around break even. Still chance to get on the move.
EURCAD cypher pattern setting up on the hourly, should finish near some nice resistance lines.
We've been waiting for the bearish Cypher on USDJPY for a while now and as the market churns legs for multiple other advanced patterns have been created as well. The smaller bat is the only one on my current radar with the others in the back of my mind for a possible completion later in the week as we get into more oft he fundamental announcements.
EURAUD forming a potential Bearish Cypher Pattern. We can go short for targets at .382 and .618 FIB Retracements.
2618 TRADE SETUP: * Wait for price to break the resistance near 101.800 and then wait for the 61.8 retracement to get long. Cypher: * Be aware of how far price goes before retracing to the 61.8 level, as it may complete a Cypher pattern, in which we would have an opportunity to go short from there and then take the 2618 setup to go long. If price completes the...
GBPJYP is forming a Bullish Cypher which when completed can form Potentially another Bearish Cypher,, So one can take long position and ride till 0.786 retracement as shown and then take the short positions for targets to 0.618 retracements.. Lots of opportunity to trade if patterns work out as expected.. Happy Trading!!