The second potential cypher pattern may occur in this pair
SL above 224% of BC 1st target 31.8% of XC 2nd target 61.8% of XC when first target reached move SL to break even Tell me what you think! :)
The second Gartley that appears in the S&P 500 these days...! I just saw it so i didn't took the trade... But i thought i should mention it to be aware maybe for a third one! Lets see how this one is going to work..! :) The first did very well..!
I think with the RSI down there.. its likely to see a retracement up to the 78.6% of XA and because of the general downtrend i believe it is a first class shorting opportunity!
I manage to get in to the trade a little bit above the entry point 78.6% of XC Thats why i set my first target a little bit above the 38.2% of CD and the second at 61.8% of XC One problem with this trade though.. C point didnt quit reach 127% ox XA but its pretty close... I got in with half o f my usual position size but anyway. Sorry for uploading the idea...
Check the Gartley pattern that appeared before.. Maybe this Shark indicates the last pullback? Who knows :P
When hit the first target take half position out and then put the stop loss to break even Lets hope for the best...!
If we get a higher high close candlestick we are talking about a probable trend continuation here.. but i would rather sit and wait patiently the pattern completion at D point Conclusion... i wouldn't get too excited with the bullish trend here.. Also check the RSI bearish divergence... I would also have in mind potential bearish patterns or double tops at the...
Take partial at 38.2% of XC (first target) SL to break even Close the position at 61.8% of XC (second target)
An excellent confluence of the two patterns that occur simultaneously in GBPJPY Short with two trades one for each pattern and stops above X of the Cypher. Targets you decide whats best for this one...
Short from D point Target 1 38.2% of AD Target 2 61.8% of AD Don't long CD
I think based on the short positions in China and the hawkish FED this is the beginning of the end...