Short idea for eurjpy as it is currently sat at previous resistances and the last 4 hour candle is a bearish engulfing. There is a nice risk reward profile for this type of simple set up
We got an update to the pattern we posted last night, due to market movements. Cypher at support if price close above the blue box the pattern is invalid. Else you know the Stop, Target and Entry rules! Remember we like to see an overbought RSI, and remember news just came out so take care out there with your low timeframe positions. We had 2 homeruns today and...
We got a with higher timeframe trend Cypher pattern with entry just under a horizontal structure zone so we hope for a retracement and a false break to trigger our entry then a trend continuation trade on this pair. Stops are well under the structure area so lets see. You know the rules for Stops, Entry, Targets and RSI. Comments good and bad are welcome Kind...
Potential Cypher pattern. Major resistance at 1.6586 RSI almost overbought Entry-1.6214 or Major resistance at 1.6586 Stop loss-1.6640 1st target-1.6495 2nd target-1.6444 Move stop to entry when 1st target is hit for risk free trade.
BAMM: long at 0,618CE, sl=1,113CE, tp=D. Close half and breakeven the other half as soon as price hits 1,272AB BAT: short at D, sl=1,113XA, tp=0,618AD (retest of C). Close half and breakeven the other half as soon as price hits 0,382AD (retest of B)
priceaction finally gave us the second bat. although the bat i detected in the last post was violated the setup is still ok because of another bat appeared. let's see what happens. reminder: extended targets here. to see details visit the related ides links. minimize the chart to see the whole picture
here on GBPCHF we have a 2.168 trade which is just a double top, break of the neckline and then a retracement from the double top to were price begins to rally of .618. Thats the sell zone for this strategy, so here we have all of that plus some other technical indications that make me think its a good trade for me. Like overbought RSI and the long candle wick on...
EURCAD has one of my favorite trades right now. Ive got it cornered in both directions.! 1= the larger bullish cypher that will complete at the D leg if price continues to decline. 2= the smaller cypher that just clipped the .127 extension for the C leg of the pattern so if price action rallies a good bit here in the next few hours then that pattern will complete...
Here on the 1hr chart we have a double top forming at a previous major structure level. We also have an overbought RSI and RSI divergence which in my experience normally sets up pretty accurate trading opportunities. The rules of my plan state that i can sell the double top before it breaks the neckline if the first test of the high is overbought on the RSI and if...
WE HAVE A BEARISH BAT HEAR VERY CLOSE TO COMPLETION. THIS SMALLER BAT ADDS TO THE PREVIOUS EURNZD CHART I POSTED WITH A BIGGER BAT PATTERN ON THE HIGHER TIMFRAME THE D1 WE HAVE AN AB=CD COMPLETION AT STRUCTURE AND THE RSI IS EXTREMELY OVERBOUGHT, SO THIS SMALLE BAT THAT WE HAVE GOT HERE ADDS TO IT AND WE ALSO SEE THIS COMPLETION CLOSE TO WHAT SEEMS TO BE A...