Get started

Bearish Cypher

NZDUSD - BEARISH CYPHER + HOW TO MANAGE THE TRADEThere is a bearish Cypher pattern on NZDUSD H1 timeframe with D leg completion at 0.71990. Entry: 0.71970 Stop: 0.72320 Target 1: 0.71690 Target 2: 0.71500 This is how I manage a trade like this. Before entry: 1) Set pending sell order a few pips below D completion (to improve likelihood of being filled) 2) Set stop 10-15 pips above X 3) Set profit limit at the 61.8% retracement of the CD leg After entry: 4) If price reaches target 1, close half of the position and move stop 1-2 pips below entry (locking in breakeven) 5) Do nothing, the remaining position is either stopped out for breakeven, or it moves lower to target 2. Making very specific trading rules helped me overcome the impact of emotions on trading decisions. I still feel bad if the trade is a losing trade, and good if a trade is a profitable one. But these emotions have ZERO impact on my trading. All trading decisions should be made BEFORE entering you position. If you have a questions leave them below! Luke
Short
by Beebags
Two advanced patterns with the trendHi guys, today we have two advanced patterns on the 1hr chart on EURCHF. The analysis starts from higher timeframes. As you can see in the 4hr and daily chart, we recently broke and closed below a daily resistance level. Now that we're retesting that zone we expect a bearish trend continuation; in order to catch that move we search for shorting oportunities in lower timeframes as 1hr chart. Here we found two bearish harmonic patterns that fits in our rules. Keep an eye on that! Stops would go above x, target with 0,382 and 0,618 retracement of AD (for Gartley) or CD (for Cypher) I'll let you know if i get involved. If you want to ask questions, don't hesitate! Good trading!
Short
by Roker1
2
S&P 500: GOOD BEARISH CYPHER PATTERN ON 60 MINS - AT MARKET !!!Hello Traders, We got the completion for this cypher pattern a while ago and the market went past our entry point. I have entered at short at market price (as shown on the chart above), giving us a better risk to reward on this trade. Do keep in mind the Elections going on in US, which can create some volatile moves in either direction. Just stick with your plan and don't let your emotions get the best of you. Capital preservation should be the main goal going into this election. That’s all I would like to cover for this trade setup. If you guys have any questions or comments about this trade, feel free to write in the comment section located under this description section. Hit that thumbs up button (top left corner of this chart) if you like the idea. Thank you everyone for all the SUPPORT that you have given me so far, I truly appreciate it. All The Best :) Follow me on Twitter as well: moneymaking2016
FX:SPX500Short
by moneymaking