BULLISH CYPHER IN GBPJPY

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Long

British Pound/Japanese Yen (FX:GBPJPY)

FX:GBPJPY British Pound/Japanese Yen

gbpjpy cypherpattern

Not a perfect cypher pattern but since it fits in perfectly in the channel and the prz lies in an important demand zone of a higher time frame we can go long on completion of the D leg.

Have a good day. :)

excellent analysis. nice parallel channel

Just curious . . .
I'm not sure I understand your logic.
How does an "imperfect pattern" add to the credibility
and confidence of a "perfect channel" ?
Thanks for your thoughts ~~~~
Wishing you a pocket full of pips !!!

dojitrader

The "A" leg was 5 pips short of the 127.7 therefore you can consider that as a cypher anyway. The terms "not perfect" were added just for the sake of viewers who would check if my ratios are exact or not. Secondly the PRZ lies in the Demand zone and are not too far away from the lower line of the channel. Good reasons to be confident, aren't they?

I appreciate your curiosity,

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