TomHall
Long

GBP/JPY - Bullish Cypher Pattern

FX:GBPJPY   British Pound / Japanese Yen
On the GBP/JPY             15min chart we have a potential long opportunity at the D leg completion of a Cypher Pattern .

The price reversal zone on this pair is between 182.562 & 182.127
The PRZ zone is only a guideline of where we will be paying attention for trade setups and opportunity's.

Potential targets for the Cypher Pattern placed at the .382% and .618% retracement of the C to D move.
Stop loss would be placed below X leg structure support .

Website.
http://www.UKForexSignals.com
Website: http://www.UKForexSignals.com
Become an Affiliate: https://ukforexsignals.idevaffiliate.com
Instagram: http://www.Instagram.com/UK_Forex_Signals
Twitter: http://www.Twitter.com/Tom_H_Official
Facebook: http://www.Facebook.com/UKForexSignals
I'm wondering why you call this a Cypher. According to my info, AB leg should retrace .382-.618 from the XA leg. In this chart, AB is aprox .7
+1 Reply
It didn't close below the .618, only the wick touched it, that's why it's valid.
Reply
Hi,
Robinovich is correct below.
It also depends on your platform if price did or didn't spike through.
Reply
EdW TomHall
Tnx for clarification
+1 Reply
No problem at all.
Have a great week.
Reply
Hi Tom, did you take this trade with FOMC looming?
Reply
United States
United Kingdom
India
Deutschland
France
España
Italia
Polska
Türkiye
Россия
Brasil
Indonesia
Malaysia
ประเทศไทย
Việt Nam
日本
한국
简体
繁體
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out