On the USD.JPY 15min chart we have a potential short opportunity at the D leg completion of bearish Cypher setup.
The price reversal zone on this pair is between 114.316 & 114.712 The PRZ zone is only a guideline of where we will be paying attention for trade setups and opportunity's.
Potential targets for the Cypher setup placed at the .382% and .618% retracement of the C to D move. There is also opportunity to look for extended targets at around 113.033 Stop loss would be placed above X leg structure resistance.
Target 1 - 113.758 Target 2 - 113.408
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USD.JPY - D leg completion at 114.316
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If you entered this position your target 1 should be attained.
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If you entered this position your target 2 should be attained.
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I appreciate all of the comments / questions & feedback, have a great week traders.
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5 EASY STEPS TO TRADE THE GARTLEY PATTERN
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Potential short opportunity available.
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Price now in consolidation after a strong bearish impulse leg, potential short opportunity in the coming days.
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My personal Bat setup strategy is available below.
@tomhall ... Hey Tom, I'm currently holding a lot of UJ short. Would love to see 109ish again. I would love to know your thoughts & advice please. Cheers Matt from Downunder ;o)
UnknownUnicorn180388
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@gaptraderhq, Hi Matt,
I will update this post very soon on my overall direction prediction :-)
gaptraderhq
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@tomhall, Cheers Tom. Thanks for the reply buddy ;o) Do you trade NG or Gold?
UnknownUnicorn180388
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@gaptraderhq, My pleasure, i buy psychical commodities but i don't trade it.
gaptraderhq
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@tomhall, Any call before the announcement? I'm still praying it comes down... still need my 109ish ;o)
DfatTrader
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Thanks for the trade Tom!! hit both targets. Please do continue
@tomhall what do you think about Euro? for this week? Why almost everything falling except the euro in the last 5-6 hour I cant understand. Or it's just a correction of the morning?