Andy_Parrish
Long

GBPUSD 15M - Potential Cypher Pattern long @ 1.4380

FX:GBPUSD   British Pound / U.S. Dollar
22 0 0
HI all,

A re-analysis of the earlier potential Cypher long, with corrected A leg, setting up on the GBPUSD             15M @ 1.4380.

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 @ 1.4420
Target 2 @ 1.4445

For the Trend Continuation Trade:
Stops below X
Target 1 @ 1.4474 (retest of previous high)
Target 2 @ 1.4521 ( 1.272 Extension )

Cypher targets will be adjusted should the pattern complete. Trend Continuation Trade targets are static.
Trade active
Comment: Target 1 on the Cypher reached for +39 pips.
Comment: Target 2 of the Cypher hit for +64 Pips.

Target 1 of the Trend Continuation Trade hit for +94 Pips.
Trade closed: target reached: Target 2 of trend continuation trade reached for +141 pips.
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