Oztrade
Long

GBPUSD - BULLISH CYPHER ADVANCED PATTERN

FX:GBPUSD   British Pound/U.S. Dollar
57 0 4
Hi All, I wanted to share this potential Bullish Cypher Pattern - this is an early post as there is not much room after we pass the B leg to post this for you to keep on your radar.

As always on screen Entry, Green is the standard 78.6% entry

Minimum Stops Red

Target 1 - 38.2% Retrace from C to D move - remember to adjust when we have D completion. And have your limit just below the 38.2% to ensure we reach target and take profit

Target 2 - 61.8% Retrace from C to D move - remember to adjust when we have D completion. And have your limit just below the 61.8%% to ensure we reach target and take profit

If price closes beyond 1.414% at the C leg pattern becomes invalid

Pattern is just valid here as we see the B leg touches the 61.8% but does not close beyond, and also the D completion is lower than the B leg - very important for a valid Cypher

Good Luck and happy trading

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