FX:GBPUSD   British Pound / U.S. Dollar
Hey, guys. A potential cypher pattern in my list of trades. If price goes a bit higher and hits the .786 line then I will enter short. I attach a screenshot of this trade with entries, stops and targets in comments as usual. feel free to check it. Have a good day.
Trade active
Comment: targets adjusted to 1.24619 and 1.24255
Comment: targets adjusted to 1.24953 and 1.24461.
Seems like the price didn't drop after it reached D point.
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@Frankco, It shouldn't drop. It should only reach 0.382CD
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still valid right ? we broke above x point
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@TAJIR_B, depends on your rules. To my rules if X is broken and I didn't enter at D then I stay away.
+1 Reply
TAJIR_B Alexander_Nikitin
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Bearish as well!
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What TP ?
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@lukas156, read the very first comment for initial targets and idea description for adjustments. PM if you have questions.
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Bearish at circa 1.25 is also the market sentiment. There is a pivot point R1 at 1.25230. Just below that I will be looking to short to catch. There is also resistance at 1.25252.
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