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Bearish Cypher

CD Leg Cypher AscensionWith advanced pattern recognition and technical analysis, will it be possible for me to profit bullish on the CD Leg of this possible Cypher, then descend on it's drop once the pattern is filled? We will have to see... RSI shows an oversold market. I am expecting a long rally to the upside with a buy order at market, then taking profit at structural levels. Once the Cypher pattern is formed, I will expect the sell limit to be triggered for 38.2, 61.8 or retracements to structural levels on the descent.
Long
by Timcqueen
IF AT FIRST YOU DON'T SUCCEED SHORT! BEARISH CYPHER ON EUR/USD.So my first attempt to Short EUR/USD failed. That's ok. You can't and won't win them all in the trading business. The market does what it wants. That said, in my previous post, I mentioned another shorting opportunity in the form of a Bearish Cypher Pattern on the 4H chart . Well, price action is now confidently moving very strongly towards the completion of the identified pattern (we still need to see it complete though). In further support of the bearish expectation, I anticipate the bullish move currently seen in price action - as mentioned in my previous post (see 2618 Second Chance link below)-, as a relief rally after the break of the Daily Chart H&S (see EUR/USD-THE END OF THE BULLISH TREND link by @ Akil_Stokes below). Further analysis indicates an equal measured move (EMM-) into the kill zone (yellow rectangle with purple border) of the Cypher pattern . There is also Fib confluence with the EMM and the pattern completion in the forms of: - 38.2 % Fib retracement from the Head of the H&S to the C point of the Cypher - 61.8% Fib retracement from the peak of the Right Shoulder of the H&S to the C point of the Cypher -161.8% Fib extension from C to B to C of the Cypher which incidentally also falls in line with the completion point D of the Cypher As a final analysis icing on the cake as it were, we're seeing overbought Stochastics across time frames (Daily, 4H, 1H and even Monthly with the Weekly being the only outlier. IF price action can complete the Cypher pattern , THEN I can begin looking for an entry reason (most likely on lower time frames) into this anticipated trade (e.g lower low lower close (L.L L.C) candle, double top (D.T) in the completion area...). Stops would ideally be above the X point. However, if the Risk profile is too great (which with the size of my account it usually is with Cyphers and Gartlies on any time frame), my ideal approach (I still consider myself new to trading so I trade with a smaller account and as such I don't trade off the 4H or Higher), I would look for a lower time frame reason for entry in the form of the above mentioned examples (D.T, L.L L.C candle...), to provide an ideal and reasoned basis for setting my stops/responsibly and reasonably managing my risk, while providing a practical basis to get involved in the trade. IF indeed we get the anticipated bearish move (remember market does what it wants) my targets would initially be 38.2%, 50% or 61.8% retracement of C to D (the highest point established not the anticipated completion point). My next targets could then be a retest of the lows at C. As a swing trade looking to ride this down to the measured target of the H&S , I'd be looking at about the 1.1247-50s (IF anyone does take this trade, be sure to measure targets for yourself. My method of measurement may be highly different than yours and produce different targets). So that's my analysis. Thanks for letting me share. Happy Hunting and Good Luck in your trades today, this week and for the rest of the year. DISCLAIMER: Like most of you here, I consider myself to be new to trading and I'm in the process of learning just like you. Any ideas posted here are my own opinion based on my personal approach to analysing and approaching the markets and do not constitute trading advice or recommendation to trade any financial instrument. You are responsible for the trades you take and are aware of the risks associated with trading. Please do your own homework and analysis and be sure any trades you take meet your own personal rules and plans. Trading involves significant risk and you could lose more than you initially invested (I love trading disclaimers. They have really kept me grounded, kept me positive and optimistic and helped me realise that while there is risk there is also opportunity if approached and managed responsibly and as a business. It was the prime driver for my seeking an education in trading)
Short
by scorpiousg
Cypher OppBefore this Cypher formed, I was unaware of it until the bat pattern below it did not result in a positive pip return. Sometimes smaller advanced patterns cannot be executed because of larger patterns engulfing them. Now, if the smaller advanced pattern goes in the direction of the trend that forms the larger one, you will be more secure in executing trades on smaller time frames. As you can see on the chart, the first bat pattern was successful while the next one was not because I was not aware of the larger pattern on the daily chart. Based on the RSI, the bullish momentum is not finished so a triggered sell limit order should be on it's way. I am looking for targets at structure. The first on being at the B Leg, following the next two levels of structure beneath B.
Long
by Timcqueen
Long Opportunity - Falling Wedge/Bearish Cypher - At Buy LevelAVT has been firmly stuck in a bear trend for the week or so. The chart started off looking very bullish, but has since pulled all the way back to the original .786 fib line. It appears we should be nearing a reversal, as two patterns have clearly formed that suggest a breakout above $3 is on the horizon. When we look at the trend lines we see a falling wedge, but it is also set up to complete the CD leg of a bearish cypher. The indicators are still bearish so we need confirmation of a reversal & volume has been low which will obviously need to change. Overall, I think this is a good opportunity given how this chart has played out so far with high probability. Set a tight stop as this pattern can't go very much lower & still be valid. Buy: 2.5 - 2.7 Stop: 2.45 Target: 3.98
ALong
by llywellyn
1
A couple of options for EuroDollar shorts - H1There could b a couple of different shorting opportunities setting up on the EuroDollar this week. The first one I'm interested in would be this bearish Cypher pattern, using standard pattern entries & targets. Within the C-D completion leg of the Cypher pattern, there is also the potential for an equal measured move, which would then complete up towards the 161.8% extension of the initial A-B leg. This would also be up retesting previous structure highs which are at a significant level on this pair. A couple of choices of how you might choose to involve yourself depending on how you trade. Let's see how it plays out!
Short
by bmck1
4
USDCAD - Bearish CypherThe sell-off in USDCAD could be coming to an end at the 70.70% retracement level with stochastics firmly in oversold territory. We've noted a 1.272% extension of the impulse leg down (green box shows 1.272 - 1.414 Fib levels) which would suggest a move up to around 1.27200 to complete the pattern. A break and close below 1.25130 will invalidate this pattern, and we are looking for a reversal sign between 1.27200 and 1.27700 before shorting this pair in the direction of the prevailing trend. All the best, Mase.
by Mase_00_7
7
Possible FLAG Pattern on Monthly w/ additional Harmonic - LONGPossible FLAG Pattern on the Monthly with additional Harmonic It seems we have a confirmed breakout of structure on the Monthly as well as a FLAG pattern that seems to have been formed. Additionally, it seems there could be a pullback during the next couple of months, if a Bearish Cypher Harmonic Pattern is to be confirmed. Two directions are possible in this chart, marked with RED and WHITE arrows, however both are ultimately BULLISH. TDI Shows upwards move with the RSI line providing above midline, bouncing off the midband on a narrow band channel. Ketchup EMA is now about to cross the Water EMA which is also an entry signal. All in all, Gold is set to increase in value, in my opinion, similarly to the increase we are experiencing in the cryptocurrency area, as the US Dollar is being purposely devalued (in order to help the US Manufacturing Industry, amongst other factors)... See here for more details: www.worldstopexports.com As the value of the US Dollar reduces, the value of Metals increases. I have now entered a LONG on this position and will set this trade to long-term for maximum profit. ---------------------------------------------------------------------------------------------------------------------------------------------------------- DISCLAIMER: This chart is for sharing and educational purposes only and is not intended to be a signal service or similar. This chart analysis is only provided as my own opinion, based on my own analysis and comes with absolutely no warranty that this analysis is correct, whatsoever. Do not trade this chart if you do not have your own strategy. Trade only with your own strategy at your own risk. Plan your trade and trade your plan... and IF in doubt, stay out. .....::::: If you like this chart, please click on the THUMBS UP! :::::..... ----------------------------------------------------------------------------------------------------------------------------------------------------------
FX:XAUUSDLong
by UnknownUnicorn661419