Trade Plan Dec 11-15

Eur Cad

Head and shoulders forming but on 1hr a bat pattern with supported direction of 200 ma which is going down. as for currency strength cad is pointing in up direction while euro is about to go down on 4hrs time frame while in 1hr Cad is already the strongest currency

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USDCAD

MA is in the Middle in 1hr while in 4hrs  about to go down
Head and shoulders forming  better trade on break out  or near sellers area, structure has been form High lower high so finding the lower low or equivalent.
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EURJPY

MA 4hrs is in the middle which currently foring a triangle pattern. however since the fab is exactly .618 so a potential perfect abcd pattern will be forming. Looking forward to start the right shoulder which strongly advice to wait for the rejection


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EurUSD

Divergent Head and shoulders forming

Dec 4 to 8 market watch

Currency Strength 1hours

Currency Strength 4hrss

EurJpy 4hrs
Euro is strong
Jpy weakest

EurJpy 1hr
Euro is weak below zero
Jpy Weakest

Beautiful pattern have seen in  1hr so trade will be based on 1hr reminder that trend is going up so be cautious on trading down.  to trade up it should bounce on the red bar which is the strong support

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EurCad 4hr
Eur strong Violet about to cross Cad Grean

EurCad 1hr
Eur weak below zero
Cad Strongest


Currency strength and chart are going in same direction currently Euro is still strong but is about to get weaker. I have seen divergent on this chart so there will be a strong pull back to change the trend
which can form to a head and shoulder pattern. For the right shoulder there are 2 keys position to closely monitor.


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UsdCad
Cad has just intersect on 4hrs time frame which Cad get stronger above 0 while Usd is just below 0
Cad Strongest in 1hr time frame while Usd 3rd to the weakest currency


The favorable trade will be down however it has already started going down very strong which break the 200MA we will be looking for a retest or pullback. pull back is going to expect above .382 and .618 .  so the key factor on this chart is the

1. red box support
 .382 Fibonacci
.618 Fibonacci

Pattern is forming Head and shouler
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Need to compare this to other trader and find out if they have seen what i have seen on this cart.

Xypher Pattern Rules

THE RULES

• AB= 0.382 to 0.618 retracement of the XA swing leg;

• BC= extend to maximum 1.414 of the XA swing leg;

• Point C is formed when prices extend the XA leg by at least 1.272 or within 1.130 – 1.414            

•  CD= retrace to 0.786 of the XC swing leg; 
          

How to PLOT

Step 1: Identify the Point X and measure it to Point A

Step II:  Identify Point B which is .382 to .618 Retracement of Point XA

Step III:  Identify Point D by using Fibonacci extension tool and measure Point X to A.
   Extension is in between 1.130 to 1.414 which the max is 1.414

Step IV: Identify Point D by measuring Point X to Point C. It has to be .786 Retracement

To Plot pattern is another skill however to take number of pips and what to watch out for possible that will happen has to be another skill. Watch the video on how to trade on this pattern. and what you must consider to have a profitable trade.

















Sources
https://tradingstrategyguides.com/best-cypher-patterns-trading-strategy/
http://www.profitf.com/articles/patterns/forex-cypher-pattern/#Cypher_Pattern_Rules

Trade Plan November 20 - 24

Its still in my watch list waiting for the right price to be in place. the currency pair will be Eur vs Usd and Usd vs Jpy.

As for Usd vs Jpy i have seen a beautiful parallel pattern which im waiting for the market to hit my mark. Now for Eur and Usd I was able to create analysis where to get involve but it so happen my mentor have uploaded a trade plan on this pair. What interest me is, the things he is seeing and considering which I have not so I collaborate my analysis to his analysis...

This how you suppose to use signals from credible traders. It is a must that you have to create your own analysis first before looking on the analyis of others. use others work to confirm or compare your work. Not to depend on this people. after all it is your money that you are trading.

(video will be uploaded)