Trade #12 CLOSED - GBPUSD, Cypher pattern in play.

FX:GBPUSD   British Pound / U.S. Dollar
65 3 1
UPDATE: Trade closed with profit.
I am tracking this consolidation and I expect this is a X leg, which would lead the prices to downward momentum for the next couple of days.

My entry is very conservative, just what I am willing to pay. In fact, I am on Elliott waves and this suggested channel. The cypher pattern is just an addition to my case.
Amazing entry!
+1 Reply
im in, but my first target is 1.56223; because there is a uncertainty zone; there are lots of red and green candles on that zone !
+1 Reply
InsideMarket farid_ardavani
As a 'conservative' trade, my target was also conservative. My early projections target beyond the 1.554 level. But I tried to 'stay safe'.
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