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Bearish Cypher

GBP/JPY - Bearish CypherHere we have another harmonic pattern shaping up, this time we are looking at GBP/JPY on a 4h chart with a potential bearish cypher pattern. The measurements for a valid cypher are detailed below. B: 0.382 - 0.618 C: 1.272 - 1.414 X to D: 0.786 I'll be expecting a spike up to hit our D point, completing our pattern then a sharp move to the downside. I am aware there is also a valid harmonic pattern on the 1h chart which I have seen posted 10+ times on here today but to me this cypher pattern looks very promising.
Short
by LewisGlasgow
5
NZDCAD: BEARISH CYPHER & DESCENDING TRIANGLE PATTERNS !!!Hello Traders, We recently just got the completion of a bearish Cypher pattern within the consolidation range, which is in the form of a descending triangle. We are getting a better price on the Cypher pattern with reduced risk, which is always good. So the Cypher pattern short trade setup is active now. Also notice that we just got a strong bullish breakout out of the descending triangle that we have been ranging in for the past 14 days. But we need to wait for additional confirmation in order to make sure, that this is NOT a false breakout. If the market can stay above the triangle for good amount of time without falling right back into the ranging triangle, then we can look to trade the breakout long triangle pattern. Notice that the entry of the triangle pattern is within the ranging triangle, so I am expecting some type of pin bar reaction as the market comes back to re-test the breakout level. Thus I am only expecting target #1 of Cypher pattern to be completed before switching to a long position, unless price action gives us some other clues to stay with the Cypher trade. Risk to reward on both patterns is very reasonable, but it can be adjusted based on your own risk tolerance. All targets for both patterns have been labelled on the chart above. Make sure to always focus on the risk that you are willing to take, rather than the reward, it really makes a huge difference in your trading performance and especially in your trading psychology. 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 NOTE: The overall major trend is still to the downside, thus I am NOT expecting the long trade setup to be like a home run type of trade, that you can stick with for long period of time. HAPPY GOOD FRIDAY TO EVERYONE IN ADVANCE, ENJOY THE LONG WEEKEND !!!
Short
by moneymaking
USOIL Bearish Cypher +Divergence +Fib resistance +StochasticsUSOIL Bearish Cypher +Divergence +Fib resistance +Stochastic USOIL crude has a confluence of quite a few bearish indicators. In the H4 and daily we see the near completion bearish cypher, along with bearish divergence to the RSI in the H4, stochastics looking tired in overbought territory and Fib resistance 0.5 of the decline from october 2015 high and 0.38 of the decline from june 2015 high. I expect only a short firework in the markets from recent ECB and upcoming FED decisions, which might lead the price for USOIL crude back below 30 US$ per barrel, unless rising geopolitical tension in the middle east might in some way affect the oil supply from the peninsula. I hope you find this analysis useful and see it as an extension to your own studies. Please leave a FOLLOW or LIKE. twitter.com
FX:USOILShort
by SinatraFX
See why Benny Manieri's gone Loony for the Loony I keep milking this pair like a cow that's in my barn.... Well, I think I've had like, 3 trend continuation setups all week that fit my rules, all of them worked out and were profitable. I don't see the downtrend ending anytime soon.Let the good times roll. All we need is a reason to get involved. Hitting and running on this pair has been working out. Yet again, we see a trend continuation set up AND a well well well, looky here; a bearish cypher pattern forming right at the daily resistance level. Imagine that. You can play this as a pattern trade with two contracts, OR a simple trend continuation trade with TP at the low with follow-ons at the 1.27 extension. The choice is up to you! Benny Manieri
Short
by BennyManieri
NZDUSD: An Interesting Dilemma (Potential Bearish Cypher)Pain free targets on our Kiwi trade from last night however we're now faced with an interesting dilemma as we inch closer to our bearish Cypher Formation completion point at 6793. In last night's video we looked at a handful of potential opportunities, but took a closer look at NZDUSD. Not only did we have the bullish Gartley Formation, but when doing our top-down analysis we also saw that this could be used as a bigger trend continuation opportunity in predicting a move to the 6850's level. Now that we have a second advanced pattern formation forming the question is (for those shooting for the TCT move) is do you stick with the original trade? Or do you take the new pattern? Now before you ask me "What should I do Akil?" Please know that my answer is going to be "What does your plan say?" But I think it'll be interesting to see how the different members of our live room are handling it and should make for some good discussion and insight for those who are looking to create rules for a situation like this. Akil Stokes Chief Currency Analyst & Head Trading Coach www.TradeEmpowered.com -The Premier Online Trading Education Company YouTube goo.gl Facebook: goo.gl Twitter: goo.gl You Can Also Follow Me On Instagram, Periscope & StockTwits @AkilStokesRTM
Short
by Akil_Stokes
48