TPTrading
Long

GBPJPY Bullish Cypher completion + trendline

FX:GBPJPY   British Pound / Japanese Yen
Good level to go long: D-point of bullish Cypher pattern and ascending trendline . This is a simple and very basic pattern trade.
Trade closed: stop reached: Stop was hit and price action has chanced pretty bearish. I´m out of the trade.
The cypher was invalid. C-point should never close beyond 1,414XA.
Reply
TPTrading Alexander_Nikitin
True. I've also noticed that these levels aren´t always 100 % exact. In this trade there was also other reasons to enter in my strategy. But you are right about the details on Cypher.
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