GBPJPY - Completed Bullish Cypher Formation

FX:GBPJPY   British Pound/Japanese Yen
A Completed Bullish Cypher Formation on the GBPJPY             4 Hour Chart
Trade active: I'm long at 135.71
Comment: GBP Inflation Report Hearings in a minute or so. Double check those stops to make sure they're on
Comment: ECB Rate Decision at 7:45 (NY) Followed by ....

ECB Press Conference at 8:30 (NY)

The markets have paused in anticipation of this
Comment: Target level hit but not filled (damn spread) . Rolling stops to break even
Trade closed: target reached: Talk about a trade making you work for it. Missed targets & didn't get filled, Barely got stopped out on trails for breakeven, then finally hitting first targets a few seconds ago. This will make for a great training lesson
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Great to have your analysis to confirm my view
GBPJPY - Cup and Handle Formation - Educational
+1 Reply
bro was stopped out then it rallied, good analysis its a part of the business @ akil
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Akil_Stokes PRO deepak612000
Sorry to hear that. Getting stopped out only to see it move in the direction of your prediction sucks, unfortunately every once in a while it happens. Just remember, as long as you followed your trading rules then it's considered a "Good Trade"
No problem Andrew
Heya people . have a similar question to one below . how necessary are signals and candle changes to identify cypher / complex pattern changes. Or is it just likely that the pattern will complete once hitting targets
Following this trade what a ride some of you had. Some of you stopped out, some of you took a lot of heat. I never took this trade as it did not meet my rules.
A topic for discussion in todays Live Room?
Stops b/e for me too. Barely missing stop and reversing 140 pips to allow a possible b/e trade, I'll take that
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I think there was talk one time by you or Jason about making rolling targets and entries if spread was a lil big to be sure they were executed( entry and targets)
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Correct, that's why i rolled stops. price action hit my target price point however it needs to spike through to account for the spread and that didn't happen. So i hope we can get back up there and grab a win, but I refuse to lose any money on this trade.
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