Cypher Pattern
32,8 Fib Retracement
Confluence of 141,8 and FIB extension and 161,8 Fib Inversion
RSI overbought
AB=CD movement
Be aware we have a Inverted Head and Shoulder Pattern so we can expect only a pull back to 32,8 Fib of the last movement (Orange Zone)
Pair is currently approaching a major structure level that has worked as good support and resistance level number of times in the past. Bearish butterfly that is potentially forming now, completes right at that level providing a nice shorting opportunity. RSI shuld be overbought at completion of the pattern to confirm sell signal. ATR based stops above the 1.618...
Gartley and Cypher harmonic pattern on GBP/JPY -
Last Friday I already submit this possible setup
- RSI divergence at 30 min, Over Sold and a falling wedge at 30 min chart is the reason for me to enter on this trade.
Possible Bullish Cypher on USD/CHF (for me the the most annoying pair)
Cypher Harmonic Pattern
AB=CD movement
161,8% fib extension
50% fib retracement level
On the day chart price is approaching the 200 EMA
EUR/USD negative correlation with USD/CHF is approaching the 1.1450 price, we can expect a pull back to.
Just a simple XABCD pattern on GBP/USD . We will be looking to go long and will be aiming for a target zone of 1.32122. We will be opening the position if the market reaches the 1.3080 zone.
From looking at the chart and plotting a "Bearish" XABCD pattern, its highlighted that there could be an opportunity for a possible sell. This could see us drop down to around the 1.324 zone.
I can see that price has been bearish from the top at about 1.615€ ...
Now that price seems to have pulled back at 50% around 1.556€ at the beginning of last week.
Price actually ended up last Friday with a nice tail around 1.532€ at a nice support /resistance
Which tells me that price may be ready to go further down forming a nice XABCD pattern.
price has been...
I will follow this possible situation on AUDNZD very closely on the next days.
Long Traders - You have an Head and Shoulders pattern
Short Traders - Possible bearish Cypher and Gartley Pattern
