USDJPY Potential CypherPotential short term shorting opportunity on this pair. The D point of the Cypher has just been touched at the 0.786.
RSI is showing divergence and the area also lies at point of higher time frame structure.
Stops are going above X with targets placed at the 0.382 of the C to D move
15min
EURUSD 15 min BatHi all,
I hope you are having fun with this wild pair.
On the chart we have a bat pattern in the make with D approximately at 1.0666
where it will meet a proven trendline resistance. For me targets will be dictated
by andrews pitchforks, each arrow shows the subsequent target.
The last arrow going up shows a potential future long trade.
The potential risk-reward is massive with this trade but if you go for the ultimate
target be ready to hold for some days. The traditional bat pattern targets will provide
good risk-reward so trading those short term is absolutely fine.
First target @ B would already give you R-R of 1:3
Goodluck guys!
SPY Short Term ResistanceSPY has been put higher lows over the last hours of trading, A good catalyst like the Fed Meeting will make it break through the 237 Level; it will encounter some key resistance level @ 237.30 (near 200 SMA), but keep in mind that in the big picture, SPY has a powerful uptrend
Cypher setup on 15minThere is a possible cypher forming on the 15min. For me it is against the 4hr trend so i am waiting for a deeper retracement into previous structure with before looking for a reason to enter. Also two possible stop-loss placements, i am personally using the lower since it is the last lower-low lower-close of the 4hr trend.