Long Cypher on USDJPY

9 thg 9, 2016

I am currently trading only things I have backtested which isnt very much yet but I believe is the only way to trade with certainty. One of the things I trade is the Cypher on USDJPY on the 1H. A nice long cypher has set up with entry at 101.83. Always be sure to know where your stops and targets are before you even place your entry orders. My stops are 1 ATR below the X point and I take 3 targets; the 38.2, the 61.8 and the 100 or the D point of the pattern.