Another potential cypher pattern on the Dollar Yen

Its pretty rare to get a couple of cypher patterns to form so close to each other on the hourly chart but it looks like we are going to see another one pretty soon. Yesterday we had one complete and hitting target one after dealing with a little bit of pain. The way I trade advanced patterns is by moving profit targets so they are always the 38.2% and 61.8% of the C-D leg. For this pattern, initial entries will be 117.85 and target one will be 117.57. Stops I believe should be above structure to the left but do what your plan says, my stops are at 118.28.

Handel aktiv:

We got filled, lets see if we can have a better winner then yesterdays

Kommentera:

Target 1 has been hit, absolutely no pain on this trade. We hit entries and rolled right over to targets. Remember to move stops after target one gets hit because once you make money, you dont want to give any up.

Kommentera:

And there we go to target 2. Dont you love trades that hit your entry by less then one pip and roll over for targets?