2018Jun14 GBPAUD H4 Possible Bearish Cypher

There is a possible bearish cypher for GBPAUD. Upon D completion at 1.78145 (78.6 of XC) and confirmation of the bearish bias, I will go short. Take profit targets are set at the 38.2 and 61.8 Fibonacci retracement levels of leg CD. The stop loss has the same number of pips as TP1 by default. Tentative details are as follows:

Trade Setup: Possible Bearish Cypher
Price Entry 1.78145
SL 1.79760 | SL pips 161.5
TP1 1.76530 | TP1 pips 161.5
TP2 1.75533 | TP2 pips 261.2
RRR1 1.00 | RRR2 1.62

Order cancelled:

This setup is invalidated with a candlestick closing above 1.78145 (78.6 of XC). (June 15)