Fxprotrader
Long

GBPUSD: Bullish Cypher Completion At Lower Parallel

FX:GBPUSD   British Pound/U.S. Dollar
Price has completed a bullish cypher pattern after a massive drop but i believe price may drop a little more probably to the lower parallel of a schiff median line set. In this scenario the pattern will be still valid but will offer a much better risk/reward ratio. RSI is oversold which adds to our tought of going long.

Likes and comments are always welcome. Follow for updates..!
thanks alot , I was waiting this trade since last week , where are you going to put your SL ? will you update us when the trade is active ?
+5 Reply
Fxprotrader GoldHunter
Yes i will update.. I will place it below X point of the pattern
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Thanks SIR !!
In this case the setup is ready .. or we must wait till the next parallel and take position?
+3 Reply
Yes mate, the pattern has completed, but i will wait for further downmove for better risk/reward setup
+5 Reply
Dguaman Fxprotrader
Thank you very much for answer me so quick ! ill wait then for your "trade active" ... and i cant wait for your website ;)
+2 Reply
It's on its way..!
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I have long (buy)positions at 1.3285. Does gbp/usd has a chance to reach(bullish) that price again in this week? Thank you
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Thankks
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If this pattern works out, that's the level most likely price will reach..
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coolbreeze4 MindTrader
Nice break down.
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MindTrader coolbreeze4
Yes nice break down
GBPUSD
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Great idea, so we will go long from Fibo 88.6
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Fxprotrader mohamed-eldemerdash
Actually yes.. For a better risk/reward..
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Forexstudent4 Forexstudent4
Are we on all time bottom?
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Fxprotrader Forexstudent4
Thank you :)
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We are getting really close to our entry point !!! com`n :D
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I bought at 1,2980 =) let see how far we go with this call :D
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Ok good luck
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Dguaman Fxprotrader
isnt active for u ? or u just forgot to update this call? ..
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Sl hit?
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Yes sl hit but at breakeven. Price reached a 1.5:1 before dropping
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Dguaman Fxprotrader
yeah same to me, i tp and then i move the 50% at breakeven too :D
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That's a nice strategy :)
+1 Reply
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