Akil_Stokes
Short

GBPJPY: A Beautiful Cypher Within Our Outside Return

FX:GBPJPY   British Pound/Japanese Yen
What we have here on the GBPJPY             is a potential Bearish Cypher pattern completion forming within a retracement leg of the underlying trend. This pair has spend 6 straight days being bearish so it wouldn't surprise me at all if we saw some relief. So the question is IF we're going to get a pullback THEN where is price action likely to go? 9See how I snuck that IF/THEN thought process in there). Well if you understand how to read a price chart then you know that when in a trend and looking at a pullback, that outside return should complete between our previous structure lows and our previous outside return. We then want to create an "A-KILL" zone within that area for our trading opportunity.

In this particular trade we would have the completion of an advanced pattern as well to aid in our decision making of where we want to get involved. I also have drawn out a potential reversal zone slight;y above the pattern completion which offers structure and Fibonacci confluence.

If you want to see another example of price action trading and how to combine it with advanced patterns. Check out the YouTube video that I posted last night.

https://www.youtube.com/watch?v=tu6H5z3a5b4&list=UUVveEks3MWZqOsvzTF_LGQg

Akil

Akil Stokes -Head FOREX Trading Coach at Trade Empowered
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Very clear also I have the same prediction.
You will try. 178.90 and continuing bearish toward closing 173.95
fibo 23.6 / H-1 https://www.facebook.com/photo.php?fbid=541854319251459&set=a.122605214509707.13924.100002806883200&type=1
Reply
Akil_Stokes TOP luisorpinelloates
2 years ago
Good stuff!
Reply
dangap
2 years ago
Nice, I also see a completion setting up on AUDCAD
+1 Reply
Akil_Stokes TOP dangap
2 years ago
Sweet, I'll check it out
Reply
iznogood
2 years ago
Hi Akil. Deep Gartley@179.00 just upon the Cypher for those who wants better RR!
snapshot
+1 Reply
Akil_Stokes TOP iznogood
2 years ago
Nice two patterns for the price of one
+1 Reply