Thread: Trading Journal - Advanced Technical Patterns

Looks like a pre-news to NFP.

NZD/CHF:

@luzonxzy that gpusd trade nearly qaulifies as a cypher pattern

Originally Posted by margood66

@luzonxzy that gpusd trade nearly qaulifies as a cypher pattern

Yeah. I'm trading the formation of the cypher pattern. This would be called an aggressive C sell, since I'm looking to short at the cypher pattern's c-point. I got the "aggressive c sell" name from Jason Stapleton but I don't think he trades the formation of these patterns. I hope it works.

Originally Posted by Luzonxzy

@ margood66 Yep. Feels good to Wake up to profit

Trade Update: Target 1 obtained & Stops have been rolled to breakeven. Almost at target 2 but you can't get overexcited and count that money yet. Got to maintain that professional trade state.

Attachment 1176

Also notice how this trade lead into the formation of this pattern (one that I'm not taking).

Attachment 1177

Dow Jones Cypher pattern update. Pattern has almost formed. I may just skip it because its friday and its on the 1 hr TF.

Attachment 1178

Hello ,

Great job on the trades!!

Couple of questions I have for you

1) In pic 1 you have a Aqua stop loss line there which I see price penetrated. Are these manual S/L's? I am assuming so since you did not get taken out of the trade. If these are manual S/L's what is your threshold before you actually close it?

2) I notice that on your ratio trades ( which are awesome) that you are entering mostly on the 38.2 retrace. Are you only taking these ratio trades on the "animal" patterns forming ( butterfly , crab , etc ) or do you use them on the regular ABCD patterns as well? If I am seeing this correctly is looks like you are playing the CD part and the also playing the D reversal as well yes?

Thanks for sharing your info really appreciate it

Originally Posted by gekko78

Hello ,

Great job on the trades!!

Couple of questions I have for you

1) In pic 1 you have a Aqua stop loss line there which I see price penetrated. Are these manual S/L's? I am assuming so since you did not get taken out of the trade. If these are manual S/L's what is your threshold before you actually close it?

2) I notice that on your ratio trades ( which are awesome) that you are entering mostly on the 38.2 retrace. Are you only taking these ratio trades on the "animal" patterns forming ( butterfly , crab , etc ) or do you use them on the regular ABCD patterns as well? If I am seeing this correctly is looks like you are playing the CD part and the also playing the D reversal as well yes?

Thanks for sharing your info really appreciate it

1) Go back and look at my original post of the trade. You can see I have a stop loss a bit below the 78.6 fib blue line. I use the blue lines to show the potential reversal zone (or supply & demand zone). I almost got taken out of the trade but I had my stops below market structure so I was safe. I use fibonacchi's as a guide but I always default to structure to decide where stops should go.

2) I basically trade emerging ABCD patterns. Its just that sometimes they form other patterns. And yes, I play the CD leg but not always the D reversal. I have specific rules/qualifications for taking patterns when they form, which that bat pattern did not meet.

Thanks for checking out the trades. I really enjoy sharing em.

Originally Posted by Luzonxzy

1) Go back and look at my original post of the trade. You can see I have a stop loss a bit below the 78.6 fib blue line. I use the blue lines to show the potential reversal zone (or supply & demand zone). I almost got taken out of the trade but I had my stops below market structure so I was safe. I use fibonacchi's as a guide but I always default to structure to decide where stops should go.

2) I basically trade emerging ABCD patterns. Its just that sometimes they form other patterns. And yes, I play the CD leg but not always the D reversal. I have specific rules/qualifications for taking patterns when they form, which that bat pattern did not meet.

Thanks for checking out the trades. I really enjoy sharing em.

Thanks I appreciate you answering. To follow up I to also play the ABCD pattern as I found it very accurate , my question would be what is it about the 38.2 fob level that you usually use? How do you know price will not go beyond that say to 61.8 or 78.6 and then retrace?

Thanks

Originally Posted by gekko78

Thanks I appreciate you answering. To follow up I to also play the ABCD pattern as I found it very accurate , my question would be what is it about the 38.2 fob level that you usually use? How do you know price will not go beyond that say to 61.8 or 78.6 and then retrace?

Thanks

Well honestly, sometimes you have to try a couple of times before you get it right. But in general I look for the market to test a zone at least 2 times before I consider taking a trade. If I'm gong to take a trade at the 38.2 fib then I look for support & resistance between 38.2 - 50.0 fib. And for the 61.8 fib entry I look for S&R between 50.0 - 78.6 fib. I hope that helps.

Originally Posted by Luzonxzy

Well honestly, sometimes you have to try a couple of times before you get it right. But in general I look for the market to test a zone at least 2 times before I consider taking a trade. If I'm gong to take a trade at the 38.2 fib then I look for support & resistance between 38.2 - 50.0 fib. And for the 61.8 fib entry I look for S&R between 50.0 - 78.6 fib. I hope that helps.

Ok I think I understand. So as I was writing I noticed the AUD/USD BIg move up then price stalls around 61.8 fib. Looking to the left there seems to be some support around that level as well. So in this case the projected target would be near the 161.8 level which is also the completion of ABCD. Would you then take this long trade with a S/L right below 78.6 with an eventual target of near 161.8? Just want to make sure I am understanding correctly. Also I know you would take profits along the way but I am just trying to understand a bit of your method. ( see attached)


Thanks