Forex CYPHER pattern - ProfitF - Website for Forex, Binary ...


FIND FOREX SIGNALS IN 5 MIN#2: ABCD + CYPHER submitted by decide2makemoney to u/decide2makemoney [link] [comments]

Trading Update: exited FET for 1.5% loss, into MVIS

I'm not quite sure what the best method is of letting you guys know what I'm doing with my trades. I try to be transparent (I posted about me exiting the FET trade this morning) but I also want you guys to be able to make your own informed decisions. Maybe at the end of the trading day, I can do a recap and then show you what I'm looking for tomorrow. Here's mine from today:

Overview for FET. This cypher pattern formed. I entered at $0.3580, not great entry but I was confident after seeing that little white reversal candle, second from the right, yesterday. Then today happened and I wasn't convinced while watching the price action and level two data. Just not much buy side pressure. I sold for really small loss this morning. Ideally today should've been a bullish daily candle, the start of that move up, but it just wasn't.

Then this happened today:
Smaller timeframe for FET: This is called a head and shoulders pattern. I haven't seen it in a while but saw it when it formed. The target downwards is from the top of the head to the neckline. It just wasn't a good day for FET so I dipped. No worries on a 1.5% loss. It could go back up, but I trade off the charts and this one wasn't looking great today. So far we can consider my $0.5976 prediction a failure unless we see some strong bullish momentum tomorrow.

And I got into MVIS:
That daily candle looks strong. It closed above the wick of the previous candle. The next resistance is the red line as a daily level of resistance, which you can also see that the price has already pierced it previously.
15min chart. The first arrow, the price failed in the pennant pattern, but rebounded nicely in the afternoon. This is what caught my attention. I love fibonacci trading, so on the smaller blue arrow, I saw it bounce off a fib level and the fifteen minute candle that closed as bullish engulfing, I bought. Then it formed the rest of the pennant. Admittedly, this week I've been struggling with entries. I think this being my first week with webull is part of that, but maybe I'm just a retarded trader lol. I set my stop loss and take profits when I bought, and I've learned to never change those levels after I set them. It sucks but things can become way worse once you start moving your stop loss lower and lower. It is technically underneath a level of daily support, so that's good I guess. MVIS hit my previous target of $1.0346 (weekly resistance) today. If MVIS has downwards momentum and starts to break the $0.9513 level, that would be a bad sign. Although it did fail that pattern this morning and rebound nicely afternoon, so I'll assess things if that happens and might enter another trade here. Risk is standard 5% of my account

So that's what I'm doing. Currently 0/1 this week in penny stocks, but I made 5% in forex from betting on usd strength against jpy. So I'm still feeling good. Sorry there isn't a great way to notify my 1,000 followers about what I'm doing immediately. I hope this helps.
submitted by trevandezz to pennystocks [link] [comments]


What's good, guys?
Being a full-time trader has allowed me to spend a lot of time backtesting different systems across many pairs.
This post will be the first of many where I share the results of backtesting, and hopefully we can all learn from it. I will be backtesting different systems across 24 pairs.
The systems being backtested include: Cyphers Gartleys Bats Flags Support and Demand
All systems/strategies will be backtested from 2010-2017 on the 30 minute chart, so you can understand how long 1 strategy will take on 1 pair. If you would like me to backtest something for this community, do let me know, and I'll add it into my schedule. For anyone wondering, I use Forex Tester 3 for backtesting purposes.
All results will be recorded on Evernote.
For example, below you will find the results of Cyphers on USDCAD from January 2010, up to May 2010 (still a long way to go). In the next few posts, in reply to this, I will explain the entry reasons for each system, risk management and results.
As you can tell, I still have about 6.5 years of backtest left, but this system (Cyphers on USDCAD) is proving to be pretty decent, having a win percentage of 50%, however being 4% up for the year so far.
Thanks, and will be looking forward to sharing results with you in the next few posts!
submitted by nzrnrdn to Forex [link] [comments]

Trading Advanced Patterns - Cypher Pattern - YouTube How To Trade A Cypher Pattern (Live Example) Forex Cypher Pattern Just Completed. - YouTube Forex Trading: Trading Bat Pattern's & Cypher Forex Trading: Cypher Patterns Gone Wild!

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Trading Advanced Patterns - Cypher Pattern - YouTube

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