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Bearish Cypher

EURJPY Bat idea (Bear)This is my 1st try mapping a potential Bat pattern. The A/B confirmation is not fully confirmed but a little practice never hurts. For reference I provided the B/C .382 and B/C .886 potential movements. B/C .382 retracement is 115.682 followed by a 1.618 extension to 116.35 before resuming the Bear movement down B/C .886 retracement is 115.010 followed by a 2.618 extension to 118.149 before resuming the Bear movement down. If A/B is not fully formed these ranges will need to be adjusted. Lets see if the current A/B retracement of 116.209 holds before any redraws.
Short
by j_nathan
EUR/JPY - Bearish Cypher (300+ Pips)We're looking at another cypher pattern but this time on the 1h chart with EUR/JPY, this is an excellent shorting opportunity with over 1:3 risk to reward... Don't miss out on this one! The D point forms at a major level of resistance, I'm expecting price to stall out on this level followed by an aggressive reversal. The measurements for a valid cypher are detailed below. B: 0.382 - 0.618 C: 1.272 - 1.414 X to D: 0.786 Feel free to connect with me below :)
Short
by LewisGlasgow
10
AUD/CAD - Bearish CypherWe're looking at another CAD pair but this time on the 4h chart with a complete bearish cypher pattern, this is an excellent shorting opportunity with over 1:2 risk to reward... Don't miss out on this one! The measurements for a valid cypher are detailed below. B: 0.382 - 0.618 C: 1.272 - 1.414 X to D: 0.786 This idea was previously posted over a month ago, check it out to see how price developed. ...BUT I thought I would update everyone on the current situation. Don't forget we have the BOC rate statement at 3:00PM. I hope you all have a great week :)
Short
by LewisGlasgow
2
Cypher & Butterfly completing right now!Hey guys, on this pair we are in a downtrend on the 4hr chart. When this happens i start to look for trading opportunities into structure levels that may provide some resistance for a trend continuation trade. As you can see price is now coming back to the previous 4h structure resistance (black line) and right there there are two different harmonic patterns completing. The first is the Cypher pattern (whose D point is precisely at the 0,7200 psychological level). The second one is the Butterfly pattern. You may be asking yourself why this is the first time i publish a Butterfly pattern; because i do not use this pattern as reason for entry. But i like to find additional clues to my trading decision, and that could be considered as one of those. Stops above X, targets at .382 and .618 retracement of AD leg. Let's see what price does. If you want to ask questions or explain your standpoint, feel free to write below. Otherwise, see you in the next chart!
Short
by Roker1