GBPUSD 15M - Potential Cypher Pattern Long @ 1.4375

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.