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Advancedpatterns

Trade opportunity in the midst of consolidation for EURCADAny pattern trader out there loves consolidation because for us it means we tend to get many opportunities to trade. Currently the EURCAD is no different. We had a cypher pattern set up and roll over pretty much right once it hit the entry, today we have another chance at a cypher pattern. Entries are at 1.4023 and you need to get your stops under the x point. The only issue this one might have is the other structure level right under the X point since the market may very well test the lower level. Be sure to do what your plan says to do and stick with it. Good luck!
Long
by tpick74
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
Bullish Butterfly At Major Structure on USDCAD!As I am getting ready for my live trading room, I came across this very nice butterfly pattern that will complete at this major structure level. Now I normally don't trade butterflies, due to the fact that they complete below X, and this is where i place stops on the other advanced patterns I trade. But when I get a setup like this, well now I have a structure zone to place my stops under. This pattern will potentially complete @ 1.3021, which is right at the lows of this major structure zone. Minimum stops should be below the structure zone, and even if you want to put your stops below 1.30000, you will still have an excellent risk/reward ratio for both target 1 and target 2. As always, follow your trading plan. If you would like to join me in the live trading room, here is the link: www.youtube.com Good Luck and Good Trading!
Long
by tommyb35