GBPJPY 15 Bearish CYPHER PATTERN @ 157.64

FX:GBPJPY   British Pound / Japanese Yen
Hi Guys,

This is a bearish CYPHER pattern @ 157.64 and stop loss will be placed above the X leg which we use as good resistance in this case. TARGETS ON THIS TRADE WILL BE DIFFERENT TO USUAL AS I VIEW THIS AS A DOWN-TRENDING PAIR, THEREFORE TARGETS WILL BE AT SUPPORT/RESISTANCE LEVELS. IF/WHEN first targets are met, half of the position would be closed for profit and stop loss for the second half of the position will be moved to break-even, ensuring a risk-free trade.

Thank you for your support.

Trade Numbers:

Risk: 57 x 2 = 114 pips
Reward #1: 57 pips. R:R = 1:1
Reward #2: 115 pips. R:R = 1:2

Plan your trade... Trade your plan.
Order cancelled: Pattern Invalidated
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