Andy_Parrish
Long

GBPUSD 15M - Potential Cypher Pattern Long @ 1.4375

FX:GBPUSD   British Pound/U.S. Dollar
23 0 0
HI all,

There's a potential cypher pattern long setting up on the GBPUSD             15M @ 1.4375.

There are a couple of ways to play this trade. You could use it as just a standard cypher or it could be used as an entry on a Trend Continuation Trade looking for a larger move to the upside. Remember to play what's in your plan and stick to your rules.

For the cypher pattern:
Stops below X
Target 1 @ 1.4407
Target 2 @ 1.4428

For the Trend Continuation Trade:
Stops below X
Target 1 @ 1.4448 (retest of previous high)
Target 2 @ 1.4491 ( 1.272 Extension )

Cypher targets will be adjusted should the pattern complete. Trend Continuation Trade targets are static.
Comment: Just a note, the A leg actually completes on the 20:00 candle not where it is on this chart, meaning that market had not yet completed the C leg.

The C leg has now completed and is currently at market.
Order cancelled: Ok this pattern has changed, so I will repost the analysis.
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