EURUSD: Bearish cypher pattern

FX:EURUSD   Euro / US-Dollar
1356 16
Hi traders,

On this EURUSD 15MIN chart we have a potential bearish cypher pattern taking shape. As long as we don't close below 1.07097, this pattern remains valid.
Entry: 1.07504
Stop: 1.07625
Target: 1.07243 = R:RR 2.16

Good luck guys! Updates will follow.
Trade ist aktiv
Trade geschlossen: Ziel wurde erreicht: We made it!
Hey , i am just curious you entered the trade and said your you reached your target but on the chart where you put your stop loss , it was hit no ?
11021992 RD-Trades
@RD-Trades, The trade was entered 3 bars after I posted this chart. In the point X I mainly care about the vertical movement. So I just put point D somewhere on the chart, as long as price is right. 8 bars after the entry, the target was hit.
After that price went up again and broke the structure, but I was already out of the trade by then.
11021992 RD-Trades
@RD-Trades, Here's what happened:
RD-Trades 11021992
@11021992, Oh okay now it makes more sense to me , nice find the reason why i asked is because my style of trading is just harmonics and structure based trades , that is why when i saw the first chart i was confused and was just curious to see what you meant
11021992 RD-Trades
@RD-Trades, Yeah I understand. I was actually a bit confused when I replayed it after your comment, haha.
RD-Trades 11021992
@11021992, is your B leg retracement between a 382 & 50 or do you take it at the 618
11021992 RD-Trades
@RD-Trades, For the Cypher pattern the B leg can't CLOSE beyond the 61.8% Fibonacci retracement of the XA leg. It can go beyond it in the meanwhile, like it did in this case.
RD-Trades 11021992
@11021992, so basically as long as the candle does not close above the 618.8% the cypher is still valid for you ,
11021992 RD-Trades
@RD-Trades, For the B leg yes.
RD-Trades 11021992
@11021992, oh okay sweet , what pairs you currently looking at right now ?
DE Deutsch
EN English
EN English (UK)
EN English (IN)
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
HE עברית
Startseite Aktien-Screener Forex-Screener Krypto-Screener Wirtschaftskalender So funktioniert es! Chartmerkmale Hausregeln Moderatoren Webseite & Brokerlösungen Widgets Stock Charting Bibliothek Feature-Anfrage Blog & Nachrichten FAQ - Häufige Fragen & Antworten Hilfe & Wiki Twitter
Profil Profileinstellungen Konto und Abrechnung Meine Support Tickets Support kontaktieren Veröffentlichte Ideen Followers Ich folge Private Nachrichten Chat Abmelden