TradingView
InsideMarket
Jul 22, 2015 3:47 PM

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

British Pound/U.S. DollarFXCM

Description

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.
Comments
shevectorie
Amazing entry!
ard3413
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 !
InsideMarket
As a 'conservative' trade, my target was also conservative. My early projections target beyond the 1.554 level. But I tried to 'stay safe'.
More