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Bullish Cypher

EURGBP Cypher, Wolfe Wave Complete at Support - Ending Diagonal?EURGBP has produced a bullish cypher pattern in addition to a number of other bullish signals. The PRZ of the cypher lies at a major support trendline (see chart below). A bullish Wolfe wave setup has been completed in the same area. Bullish RSI divergence is present and is also oversold at the PRZ. To add to the bullish bias, an unhit cluster of pivots sits above price. I've counted a 5 wave bearish impulse with a possible ending diagonal that could be followed by sharp bullish price action. Target is set at the unhit monthly pivot. SL is placed below trendline support. Confluence in the PRZ: Bullish cypher pattern completion Bullish Wolfe wave pattern completion Major trendline support Unhit pivots above price Possible ending diagonal RSI oversold Bullish RSI divergence D1 Trendline Support: Thanks for your support and don't forget to click the thumbs up button and follow me for future updates and more trade ideas!
Long
by glennmercer
5
EURAUD: A Few Potential Advanced Patterns to Keep an Eye OnHappy Friday traders! Just wanted to share a few potential advanced patterns to keep an eye on heading into next trading week. I no longer have this pair in my portfolio, so I won't be able to participate but it's still one of my favorite pairs to do analysis on since it's been offering a massive amount of opportunities this trading year. Akil Stokes Chief Currency Analyst & Trading Coach www.TradeEmpowered.com Check out my most recent trading video "Building a RULES BASED Trading Strategy" youtu.be
Long
by Akil_Stokes
17
USDJPY 1HR: Potential Bull Cypher @ Previous Structure SupportLooking at a potential Bullish Cypher Pattern here on the $USDJPY. Normally I would tell you that this particular pattern is coming in at a nice level of previous structure support, but with the Yen being trapped within this consolidation area since late August, I don’t think it makes much of a difference. If you didn’t get a chance to hear is yesterday check out my latest podcast interview with Desire to Trade “The Story of A Hard Working trader” www.desiretotrade.com Also if you find that you’re asking yourself “What’s Stopping me from Success?” Check out our FREE trader assessment tradeempowered.com Good Luck this week traders! Akil Stokes Chief Currency Analyst at Trade Empowered Click here for 20+ hours of FREE Training tradeempowered.com
Long
by Akil_Stokes
17
USDJPY: A Lot Going On Here So Let Me ExplainEarlier in the week I shared with you my idea for a potential bullish Cypher pattern here on the USDJPY and as you can see price action has yet to reach the “D” completion point. In Tuesday’s Live Trading Room session we were able to capture some profit on a long entry as the market retested the Cypher “B” leg and now price action looks to be retesting that zone once again. I want to keep this as simple as possible but here’s what I’m looking at going into today’s trading. 1) Another potential long entry at the same level as Tuesday’s trade (orange box). Not only does that represent previous structure support, but we would have a nice harmonic move heading into that level as well. I haven’t drawn in any Fibonacci yet but I would assume some type of confluence too. 2) The potential Cypher pattern completion from earlier in the week and… 3) A potential Bullish Gartley pattern that has now formed as well. I’ll see if I can record the Live Analysis I do on this pair during this morning’s Live Trading Room session and add it to today’s Youtube video ( www.youtube.com ) Akil Stokes Chief Currency Analyst at Trade Empowered Click here for 20+ hours of FREE Training tradeempowered.com
Long
by Akil_Stokes
39