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USDJPY 1HR: Potential Bull Cypher @ Previous Structure SupportLooking at a potential Bullish Cypher Pattern here on the $USDJPY. Normally I would tell you that this particular pattern is coming in at a nice level of previous structure support, but with the Yen being trapped within this consolidation area since late August, I don’t think it makes much of a difference. If you didn’t get a chance to hear is yesterday check out my latest podcast interview with Desire to Trade “The Story of A Hard Working trader” www.desiretotrade.com Also if you find that you’re asking yourself “What’s Stopping me from Success?” Check out our FREE trader assessment tradeempowered.com Good Luck this week traders! Akil Stokes Chief Currency Analyst at Trade Empowered Click here for 20+ hours of FREE Training tradeempowered.com
Long
by Akil_Stokes
17
Long GBPAUD: 5 ReasonsGBPAUD has formed a tight PRZ where a series of bullish harmonic patterns have completed. There is also an unhit weekly pivot above price which may help drive price upward. SL is placed below .886XA with targets at .382CD and the unhit weekly pivot which coincides nicely with .618CD. 5 Reasons to Buy: 1. Bullish Gartley pattern completion 2. Bullish crab pattern completion 3. Bullish butterfly pattern completion 4. Bullish RSI Divergence 5. Unhit weekly pivot above price Thank you for viewing and please don't forget to take a second to click the thumbs up button for future updates and more trade ideas!
Long
by glennmercer
gbpnzd: retest of lows with at market bear bathey, traders. Look at this nice set of NSL's and LH's. Price is trending to the downside. I picked up this batpattern to enter short in anticipation of trend continuation. As usual with harmonic patterns stops need to be placed above X. Look at my related ides links to see how these kind of setups work. Don't forget to press "thumb up" if you find the idea interesting. If you want to recieve my ideas beforehand press "follow". Have a nice day.))
Short
by Alexander_Nikitin
7
audnzd lang with bat patternhey, traders. We had a series of down impulses (red lines) separated only by corrections. This is a definition of a trend. As we know price tends to move in one direction until it shows the sign of reversal. The sign of reversal is a break of LL's and LH's structure. In this case priceaction instead of making a LH made a NSH, thus signalling us about the trend reversal. Note that I don't consider a consolidation boarder breakout to be a sign of reversal. Only violation of the most recent impulse's initial point (=LH) is the sign. As usual with advanced patterns, stops need to be beyond X. 1.13XA is the level i like most. The idea of this trade setap is to catch the second impulse of a new uptrend. Here 0,886XAshould serve as this second impulse's initial point and I look for 1.272XA inversion to be it's final point. Here I place my targets. Those of you who follow me long enough in this setups know that I close half as soon as price action retests the A-point's highest close. I breakeven the second part and enjoy the risk free trade to uncover itself. Support me with your 'likes'. If you are new and want me continue explaining my trading style then press 'follow' to get my charts. Don't forget to check my other ideas where I post this setup to get confidense in the setup's profitability. Until then, good luck. Let's see how it works.
Long
by Alexander_Nikitin
1
How To Trade The Cypher Pattern.Hi Traders, After more positive feedback received from the Gartley & Bat Pattern explanation, I have drawn the final illustration explaining my interpretation of the Cypher Pattern For those who have not yet seen the explanation for the Gartley or Bat Pattern I have attach the link in the comment section below. Above Is an illustration of a complete Cypher Pattern and the rules and ratios needed to trade this pattern. First things first, grab your Fibonacci tool and draw from the X to A leg of the initial move or impulse leg. The Fibonacci ratio's you are looking for are the 0.382%, 0.50% and the 0.618%, price MUST at least touch or spike through the 0.382% but not touch or exceed the 0.618%. The price reversal zone is shown in the white box. Now you have the B leg we are looking for the C leg which is an extension of the A to B move. On this occasion grab your Fibonacci Extension tool and draw from the A to B and then back to A, you are looking for a minimum of the 1.272% extension. On the C leg the price reversal zone is a little narrow on many occasion, price MUST hit the 1.272% but not exceed the 1.414%, which is once again shown in the illustration above. Once you have the X A B and C legs you are looking for the final piece of the jigsaw which is the D leg completion and the area you are looking to buy. There are a couple of different ways to get the D leg however they both end up at the same price, for me personally I use the Fibonacci retracement tool. To get the D leg take your Fibonacci tool and draw from the X to C leg which will give you a 0.786%. Once price falls to the 0.786% all criteria's are met, at which point you would buy in anticipation that price will rise. TARGETS: When looking to take targets on this pattern the first step is to once again use your Fibonacci tool. Take your Fibonacci tool and draw from the C to D leg, you are looking for the 0.382% and 0.618%. If this is the method you are looking to use for targets you would have your broker take off half of your position at the 0.382% and the other half at the 0.618% To protect the profits you have accumulated it is advised to move stop loss to breakeven once the 0.382% target 1 has been attained, thus giving you a risk free trade and money in the bank. STOP LOSS: When looking to place your stops there are again many ways this can be done, but should always be placed below the X leg. Your risk reward should be a minimum of 1:1 on every trade to the 0.382%, if this can not be achieved then I would not personally take the trade. CURRENCY PAIR: This pattern like any other and is more profitable with certain currency pairs, you should do your own back testing on this before trading the pattern. I hope this is a more in-depth insight to advanced patterns in particular the Cypher Pattern . I am available via private message for any questions you may have. WEBSITE: www.UKForexSignals.com DISCLAIMER: Please note I am only providing my own trading information for your benefit and insight to my trading techniques, you should do your own due diligence and not take this information as a trade signal.
Education
by UnknownUnicorn180388
22
NZDCAD. Retest of lows with at market Gartley patternHey, traders. This week starts with NZDCAD setup. As usual I look for a trend and enter in it's direction using advanced patterns such as gartley, cypher and bat. On the chart above you see a series of lower lows and lower highs wich is a definition of a trend. I already entered it and while I was typing this message priceaction went a bit away from my entry point wich is exactly 1,272AB extention. Don't hesitate to enter short if priceaction pulls back to entry point before it hits 0,382AD - in this case Gartley remains valid. I place my stops above X and my target is a retest of A-point. Look at the related ideas links to see how this setups work. Press like if you find the information interesting. Follow me on Tradingview to never miss my ideas
Short
by Alexander_Nikitin
8
back into trend with bat patternhey, traders. If yo look at the chart you will notice priceaction trading within the last impulse's leg range. As we all know moves in trends. So, it's not a bad idea to look for a trend continuation. I'm looking for another impulse to the upside and i'm going to use this bat pattern to enter long. As usual stop needs below X. My target is 1,272 XA extention. This give me a 1 to 4,6 rik/reward ratio. If trading setups like this you don't need to be right every time. Moreover, you don't need to be right even 50 times of 100 to generate profits. Let's see how this particular trade works). Multiple examples are attached as related ideas links. Check them to find out how this kind of setups work. If you find the inormation useful - you are welcome to press "like". Don't want to miss my next ideas? Press "follow" button. Good luck.
Long
by Alexander_Nikitin
3
AUDUSD TYING TO BOOK SOME CORRECTION BEFORE DOWN TREND RESUMESHey, traders. Wonderful oppotrunity here. With a new structure high and a retest of highs priceaction made an up-trend which definition is "a series of two or more impulses in one direction separated by correction". The retest of highs is an impulse because it tests the last impulse's initial point thus forming a double top. This up-trend was invalidated by a NSL which is the sign of reversal. SIgn of reversal is the last impulse's intial point violation. We see priceactions breaks through the most resent HL installing a NSL. With that being said I took a bat pattern to enter long. I don't expect to see another impulse to the upside only a correction of 0,618. A this point I'm going to sell one unit to close my long position and then immediately sell another unit to initiate short position with a 2618 patternin anticipation of down-trend to resume. this technique is known as stop-and-reverse technique. Look at the related ideas links to see how this kind of setups work. press like if you find the information useful and subscribe to get my ideas beforehand. Good luck.
by Alexander_Nikitin
8
Eurusd install downtrend againhey traders, recent NSH was rejected by priceaction which formed a NSL. When priceaction does violate the last impulse's initial point - this is a sign of reversal. So I expect further impulse movement to the downside. My take profits here are at 1.272 XA extention because we are likely to see the second impulse after the sign of reversal which is considered to be the first. When priceaction retests A-point, I close half of my position leaving only half at risk.let's see how it works))
Short
by Alexander_Nikitin
5
Lots of stuff happens todayHey traders, another setup here. We had a trend which is a series of two or more impulses in one direction separated by correction. Then we had a sign of reversal which is the violation of the last impulse's initial point. You can see NSL below the recent HL. This is it. As technitians we all know the truths that prices move in trends and they will continue moving in the trend's direction until we have a sign of reversal. This is the exact situation illustrating these truths. A bat pattern is a good technique to enter short in anticipation of downtrend installation. Here I expect at least A-point retest before we have a NSH above X. Press like if you find the information useful and subscribe in order to to miss my ideas)). Good luck
Short
by Alexander_Nikitin
7
Gbpcad back into trend after false breakoutA very nice setup here, trader. We had a series of impulses in downward direction. This is the definition of a trend. then we had a most resent HL violation to the downside. This is the defenition of the sign of reversal. And instead of continueing moving upward installing other upward impulses priceaction makes a new structure low. This is the classic defenition of a false breakout. It is very likely for down trend to resume. Moreover, if you look close at priceaction you would notice a cypher pattern. Good luck.
Short
by Alexander_Nikitin
1
XYZ - BEARISH BAT PATTERN - 60M EURJPY Hi All, I wanted to share another potential opportunity we have setting up here on EURJPY 1. Min Stop Level Marked in RED 2. ENTRY green - standard 88.6% - 135.790 order placed just below entry to ensure we get filled 3. Target Levels - T1 and T2 - Standard 38.2% and 61.8% - to get targets set them just above these levels. 4. I have drawn XYZ for you to see the 61.8% retrace from these points lines up with our 88.6% Enjoy and happy trading Lets see if we break past the B leg which should be a sign to continue upwards.
Short
by Oztrade
1
EURUSD - BEARISH BAT - 240M - ADVANCED PATTERN - FIB CONFLU ABCDHi All, Again we see another potential opportunity for a shorting position here on EURUSD In a recent post I mentioned how I believed the FOMC would push this pair to 1.1400's This has presented us with this Bat Opportunity Fibonacci Confluence - 127.2 and minor 141.4 along with our 88.6% D completing all around the psychological even handle number 1.15000 - we also have an AB=CD completion - and in LTF we may even have a three drive move just from eyeing this up where price is now. We have previous major resistance levels which we should see the bounce off as well. I have marked some extra green lines so we can see how price reacts here. Trend continuation traders should be taking profits and selling off at these levels and you can see our targets are right back at Structure - which lines up perfect with our Fibonacci 38.2% and 61.8% Also the reason I have chosen this X leg is because it is a structure level and it is an Impulse Leg. As always RED STOP LEVEL - GREEN LIMIT ORDER ENTRY LEVEL - BLUE TARGETS or (LIMIT) Good luck traders and happy trading hope my insight on this provides some help.
Short
by Oztrade
2
2 TARGETS EXPLAINED - POSITION SIZING - BANKING PROFITS Hi All, I recently have been asked to publish this diagram for executing a 2 target order. I have labeled the diagram with order sequence in a perfect world scenario. Steps below relate to numbers on chart I am not telling you this is how everyone does it and this is only based on the questions I have been asked, every strategy has its own order entries stops and targets. 1. Price action comes down to hit your Limit Order Entry/Entries - when we find the reason for entry in this case we have identified this as an advanced pattern. When price action has at least past the B leg and we anticipate that price will continue downwards towards our D completion and predict where the Market is most likely to go after this, we then decide on our entry type and execute the order - The most important thing is to know where your entry stops and targets go before the entry level is reached. We mark these area's out and place 2 Order Entries @ Half position size. So let's say you would like to buy 20k EURUSD and the spread was 2.3 pips with a pip cost of $1 per 10k (minilot) trade. The cost would be: 2.3 pips * $1 per minilot * 2 minilots = $4.60 Now let's say you bought 20k in EURUSD, but this time, you bought two separate minilots, 10k and 10k. The cost for this would be Position #1 - 2.3 pips * $1 per minilot * 1 minilot = $2.30 Position #2 - 2.3 pips * $1 per minilot * 1 minilot = $2.30 The 2nd scenario costs the same as the 1st but allows two different sets of stops and limits (one set per ticket). So now we have the Order in Place with your target 1 and 2 and only exposing you to a stop loss of your original 20k After D has completed you need to make sure to bring your targets down until D has completed. 2. Now you have your order filled, based on historical data and forward testing results in the most likely of places price will retrace to being the 38.2% for T1 and 61.8% for T2 - now in your testing results you may just take one position and use the 50.0% for your one target. Keep in mind this is just an example. We have already banked our target 1 with 43pips - Price can do 3 things Go up Sideways or down. We hope price would just continue to hit our T2 - in this case price will retrace when sellers have their orders in at the 38.2% 3. We then move our stops up for position 2 to break even. 4. Price action usually will retrace and can indeed come back down to stop you out for a break even trade on position 2 but this has already banked 43 pips at 10k Half Position. 5. Price action doesn't stop us out and we are looking for Target 2 to be acquired, when T2 is obtained we have completed a perfect trade. And target 2 has banked 69 pips You can also trail a stop when the price action hits T1 if you need to sleep or leave for some reason and don't want to leave the position exposed to loss if it turns in the wrong direction. You can take step number 4 after the retrace and use the LLLC candle wick and trail the stop 5 pips below or above the HHHC candle wick depending on bearish or bullish. Note: some brokers or platforms do have the feature to have two limits on the one order. Also note the dollar figure is great that's what we all want is to make money in the market, the most important thing though is to not go broke, protect capital, dont expose yourself to too much risk, bank profits and don't be greedy. Being a consistently profitable trader putting yourself in the highest probable trades, Like Warren Buffett Says The stock market is a device of transferring money from the impatient to the patient. Their are a million ways to make and lose money in Forex - good luck I hope this helps for all those who asked to post it
Education
by Oztrade
2
POTENTIAL BULL CYPHER - BEAR BAT - 60M EURJPY Hi All, I wanted to share this potential opportunity for a chance to get long or short, keeping in mind we have had a break and close above the previous resistance structure zone. And also a break below here putting in a lower low than previous structure. It could be a false break What it does start doing for pattern traders is presenting them with a period of consolidation where we see multiple patterns forming where price just goes sideways until it either breaks up or down. If you look at the previous structure level we also seen periods of consolidation at this level. I havent put in targets in this chart - BAT Pattern STD targets - 38.2% and 61.8% - A to D FIB Retracement Cypher Pattern STD targets - 38.2% and 61.8% - C to D FIB Retracement - remember to take the retrace tool down until the D completes for accurate retrace levels. If you are more conservative here with the Cypher to get a better risk reward profile, at the bottom of the Green box that is the 127.2% Fib Ext level and close to the even handle 135.000 - anything you can do to present a better entry reason we always look for. The more confluence levels - the better it is for us presenting a higher probable chance price will bounce off that level. CTS traders may look for an AB=CD as well as a D/B or D/T to provide a very high combined technical score. Bulls think what the Bears are thinking and Bears think what the Bulls are thinking - reverse engineer to present great results. Also good luck through FOMC - dont get caught out make sure you have stops in place. Check your filters and watch the signals - happy trading
by Oztrade
2
BAMM and BAT tradesHey, traders. Recent HL was violated to the downside. Not a downward trend yet bur a sign of probable reversal. Being a part of bat pattern this kind of setup is called BAMM (Bat Action Magnet Move). BAMMS usually traded in anticipation of BAT completion. This time BAMM rules coinside exactly with 2618 trade rules. After BAT pattern is completed there's a high probability of of price to resume the overall uptrend. I'm going to sell gbpusd at 0.618 and buy it back at D-point. Moreover I'm going to buy another unit at D-point to initiate BAT trade. This technique is known as stop-and-reverse technique. Hope you find the information useful to empower your trading skills.
by Alexander_Nikitin
12
GBPAUD - POTENTIAL BULLISH BAT BULLISH CYPHER - 240M Hi All, I posted this the other day just to keep it on the radar. After my post we now have a potential Bat as well as the cypher setting up here for a Long Opportunity. BAT Pattern has Fibonacci Extension Confluence levels - Minor 1414 and Major 1618 and also a 127.2 Fibonacci Inversion from the Cypher A to B leg. It also completes close to the even handle 2.15000 and 88.6% completion - with AB=CD I have also marked in 2 green arrows for the Previous Resistance zone which became support which you can see from our X Leg. Cypher D completion has a 127.2 Fib Ext and Minor 1414 confluence. And 78.6% completion Depending on your rules and which patterns you trade, you can look for aggressive entry on either pattern or a signal which will provide you with more confirmation of reversal. If we continue downwards I would hope to see the reversal around the Bat D Completion which will provide us with a better risk reward profile. I havent put in the entry stops and targets in this trade, you can use the A to D leg retracement of the BAT and look for targets at the 38.2% and 61.8% and also base it around the structure levels where we know price is most likely to retrace and retest at. Cypher you would do the same but using the C to D leg for Retracement levels 38.2% and 61.8% - depending on your rules and targets it will determine your entries stops and targets. The only thing we need to keep in mind with this is the next level of support on this TF if we break below X Check your filters Happy Trading
Long
by Oztrade