GBPJPY: Two LARGE Potential Advanced Cypher Formations

FX:GBPJPY   British Pound / Japanese Yen
Tough day for the GBP, and the weakness on this particular pair has inched price action towards 2 potential Cypher formations.

More so than most of the other major pairs, it's important that you measure out your risk prior to setting your limit orders. For example, for the smaller cypher completion the "X" leg (which is where stops need to be beyond) are over 125pips away.

Enjoy traders!!

Akil Stokes
Chief Currency Analyst & Head Trading Coach
http://www.TradeEmpowered.com -The Premier Online Trading Education Company

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Trade closed: stop reached
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Hi Akil, I believe your intent to participate is to gain more followers/business. For ppl like me who're not as knowledgeable on Harmonics, we would like to see some details on these charts.....e.g where's the TP, SL etc. Just honest and candid feedback. Hope to see more awesome stuff from you :-)
+1 Reply
eager mail2paras
Akil is there any video of ur, where we(noobs) can learn what r BAT, Cypher formation ?...and how does it works ?....where we should put our stop loss and TP ?..frankly saying i don't even know what is ATR ............Thanx akil...i appreciate everything u do .
+1 Reply
hey eager from one noob to another check out this web site: http://www.tradeempowered.com - heaps of good stuff there. plus check out youtube.

plus there is this (copy and paste it into your browser)

Hopefully this will help
eager shaunrev
thanx mate
Trade What You See by Larry Pesavento is a great book for those getting started in pattern trading
eager Akil_Stokes
thank u very much.....
+1 Reply
you're welcome
I understand what you mean and yes, one of the reasons I post on here is to gain followers. But, although I take part in a trading education business I also want to continue to provide content for those who are unable to afford what I offer. However from my experience, when I place targets and stops many traders will blindly enter trades just because I'm involved, or they think I'm involved. (Then get angry at me if I wasn't involved or if my stops and targets changed from the original post) As an educator, that goes against what i stand for as I never wanted to run a signal service. I believe in the long run it hurts more traders than it helps. So I understand where you're coming from, but I hope that you can understand my perspective as well.
mail2paras Akil_Stokes
Thanks Akil !Good to know your perspective.
+1 Reply
No problem
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