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Cypherbat

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
Double top on NZDUSDHey guys, today i want to share with you a simple pattern formation that occurs very often in the market that's very effective. It's the double top; it happens whenever price action fails in making new highs in a bullish market. This could be the first sign of a reverse and draws traders to the market. Here on NZDUSD we are in a long bullish trend and price completed a Cypher formation on daily timeframe. Furthermore, the black line represents a daily structure level that seems to hold. The RSI shows us divergence (and it's always a good sign of reversal). The last thing i want to see is an engulfing candle that came right now. For all those reasons i'm selling this market at the first little pullback that gives me a 1:1 RR at the retest of the lows. If you have any questions, feel free to comment below. Otherwise, see you in the next chart!
Short
by Roker1
5
Cypher pattern on EURNZDHey guys, another advanced pattern formation i'd like to share with you today. As usual, my analysis starts from higher timeframe: the black line represents a daily structure level that's just been broken to the downside by priceaction. Being that, i know i expect a bearish continuation to the south and i want to get involved in short trades if i can. This harmonic pattern, called Cypher, allows me to do so, therefore i'm setting my orders up. Stops above X, targets at .328 and .618 retracements of AD leg. Good luck! If you want to share your standpoint or just ask questions, feel free to write below. Otherwise, see you in the next chart!
Short
by Roker1
GBPJPY very nice confluence!Hey traders, i've kept an eye on this pair for a few days now. The AB=CD pattern is now complete and we are sitting right at the structure level i waited for (black line). We also have a Cypher already completed, a psychological number and RSI divergence. This level happens to be 38.2 of the daily's impulse leg. I only need a candlestick formation in order to enter long. Risk to reward ratio seems very nice. If you have any question or remark, please comment below. Otherwise, see you in the next chart!
Long
by Roker1
2