Art_of_Trading
Long

GBPJPY: Sideways & Cypher

FX:GBPJPY   British Pound/Japanese Yen
On FX:GBPJPY             , we had a trending market last month. The price was going upward, making higher high and higher lows. but the last swing broke the structure and change the market to sideways. The price dropped this week and its time for the correction. There is a valid cypher pattern to go long. Put SL below X leg. In addition, we have a trendline (dynamic support), which exactly hits the same level as the entry level (78% fibo retracement).-
T1 - 38.2%
T2 - 61.8%
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Comment: The price hit the entry level
Comment: The price didnot exceed X leg; still in Trade and wait to hit our Target. Patience really pays.
What is your invalidation level on this trade? Around ~184.3?
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