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Taiwan_Bear
11 juin 2018 08:06

USDJPY - Short the Cypher pattern (harmonics) 

FX:USDJPY60
U.S. Dollar/Japanese YenFXCM

Description

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USDJPY pair has formed a Cypher pattern.

D point of the Cypher pattern is also at the same price level as the downtrend line (orange) acting as another resistance.

I have shown 3x possible price levels to place stop loss depending on your strategy.

Could be a good time to sell.

Good luck.



Taiwan Bear

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Please note this post is provided for informational purpose only. It is not a financial advice to buy/sell.

Commentaire

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Half positions closed with 1:2 risk/reward ratio and remaining positions closed break-even.

Will find another opportunity.

Trade closed

Commentaire

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Trend Analysis
Commentaires
Laurentbakiu
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look D1 head and shoulders
jasonxxxl
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what time frame should we be using?
jasonxxxl
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@jasonxxxl, anything above one hour still possible
Taiwan_Bear
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@jasonxxxl, I use daily to check the overall trend. Then 4hr and 1hr to check the candles.

Then 5mins to have a better entry & SL.

Watch for the breakout of the triangle.

jasonxxxl
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@Taiwan_Bear, amazing man !!! thank you so much !!! learning so much!
Taiwan_Bear
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@jasonxxxl, There is structure at 109.8.

Don't forget to take half profits when you achieve 1:2 risk/reward ratio and adjust the SL of the remaining positions to break-even. And keep the rest risk free.

Enjoy the profits :)

jasonxxxl
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@Taiwan_Bear, Will remember this r/r!! thank you man ! you keep crushing! God bless!!!
Taiwan_Bear
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@jasonxxxl, I learn Forex from @tntsunrise. You can check his free Youtube videos. Really useful.

Taiwan_Bear
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@jasonxxxl, There might be an AB=CD pattern.

Watch for possible price reversal around the blue block. I am about to go to sleep, can't keep giving you an update.

jasonxxxl
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@Taiwan_Bear, appreciate what you are doing ! yes please go get the sleep !!! thank you once again ! Cheers!!
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