GBP.JPY - Bearish Cypher Pattern 174.163

FX:GBPJPY   British Pound / Japanese Yen
On the GBP.JPY 1 Hour chart we have a potential short opportunity at the D leg completion of a Cypher Pattern

The price reversal zone on this pair is between 174.157 & 174.951
The PRZ zone is only a guideline of where we will be paying attention for trade setups and opportunity's.

127.20% - 78.60% & 88.60% Fibonacci confluence at the D leg completion.

Potential targets for the Cypher Pattern placed at the 38.20% and 61.80% retracement of the C to D move.
Stop loss would be placed above X leg structure resistance .
This one doesn't work anymore....
+1 Reply
TomHall SupportAndResistanceLvls
That's correct, price action has fallen below the required fib levels
+1 Reply
TomHall HeavyPips
Thanks very much
Good one. Until then 174 its a buy call :)
+1 Reply
TomHall christom
Best of luck, hopefully we can get up there :-)
Should We sell from the current price or till the price reach the D leg ?
+1 Reply
The pattern is not valid until we get a D leg completion
+1 Reply
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