Hi All, I wanted to post this potential Cypher Setting up here
Inverted risk reward to T1 - you may look for price continuation to the top of the green box which is also very close to the Even Handle number 121.000 - you can see the previous structure resistance level - this would make the RR 1:1 for T1
Its all good Elly Chen - many more possibilities sometimes during the FOMC if you arent protected by stops below or above your entry - still being in the green by the time the news is released its best to sit out. So you could say that you did have a winner based on that :) all the best.
ellychen
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^-^
TimBrent
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very nice downwards movement ^^
Oztrade
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Appears we had a nice winner - with a T1 of +54 and a T2 of +118 bringing a total of +172 and a stop reverse Cypher which I didnt have time to post hitting T1 for +50 and stops for T2 rolled up to Break Even
TimBrent
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Well done. It dindt match my rules so i Dindt took the trade. But it is nice to see how the market reacts on these patterns. Well done.
Oztrade
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Hi Dada - yeah Its a matter of Structure - Fibonacci - Trend - Price Action and Advanced Patterns all in one analysis. But yeah having all of this confluence in one trade makes it a higher probable chance for a roll over. I just don't write all this in my analysis or put too much clutter on the charts - All these best and you are 110% correct if it doesn't match your rules then good on you - high regards to you.