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Pattern-trading

USDJPY Broke structure to the downside...Hey all, Been watching this USDJPY potential Bat pattern formation now for a week or so. Recently broke 3 levels of structure (green lines) to the downside indicating we will be pressing down to a Bat pattern completion! Probably looking for this to happen early next week but we shall see. Good Risk Reward on this too if it happens - looking for target 1 and 2's. Also planning to do some education material here on trading view to give you some insights into becoming profitable! Fibsii Team
Long
by FIBSII
Oh Look at that, ANOTHER Failed Cypher PatternSo I have been doing a HUGE backtest on Cypher patterns. 2500+ hours and 15k patterns found on 26 currency pairs, 4 timeframes. Even did a YouTube video on it. Check out my YouTube page at karmasenge.com/youtube. The MAX win ratio that I could find is a 46% win rate on the USDJPY, Daily TF. And the average was around 43% win rate. Couple that with an inverse Risk Reward and you have the makings of a depleted account. The only people that I know of that get the so called 80% win rates are those guys over at TradeEmpowered. The guys that created the pattern in the first place. I have been through their courses, live trading rooms, etc. I know how they identify these patterns. But these patterns are TERRIBLE! Do not trade them unless you want to loose money. Don't fall for the marketing and gimmick BS.
by KarmaCashflow
Getting involved in the potential C-D moveLooking for an opportunity to get involved in this downtrend move got a very nice potential Gartley formation coming right at structure. But this time the market gave me another signal that stick to my trading rules in order to enter in this position, we got a double bottom at a very psychological number of 101.000 with RSI divergence, so in this trade I'm entering with a very tight stop not looking for a trend reversal trade but a C-D completition move where I'm planning to reverse the position and go short. Keep it simple, and focus on the process Twitter: @JeanC680 Jean
by JeanConsole
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