Fxprotrader
Short

GBPUSD: Pending Cypher Pattern

FX:GBPUSD   British Pound / U.S. Dollar
I have close my previous active GBPUSD             trade (see link below) with a profit of 210 pips as structure has changed..

Current pending setup, a bearish cypher pattern:
Entry: 1.25786
Stoploss: 1.27085
Profit target: the median line of the pitchfork
Trade active
For now it looks like you placed your SL at a good level as you came close, but weren't stopped out. My long from 1.234 is still active targeting 1.28 and is now risk free with SL just below the rising support line (~1.242) in my chart. NFP may well be the game changer today. If not, the Italian referendum on Sunday definitely will.
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Fxprotrader BhaktaBasics
@BhaktaBasics, I wish i had placed my EURUSD stoploss as well as this one.. I was stopped by pip :) But no problem at all. Yes these news will affect massively the markets.. Good luck :)
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BhaktaBasics Fxprotrader
@Fxprotrader, Ok so NFP turned out to be a non-event. I guess we move on to Sunday for some action. Unfortunately, since this occurs over the weekend we will likely see a gap on opening so will have little control. Hopefully SL's etc. are filled without too much slippage.
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Fxprotrader BhaktaBasics
@BhaktaBasics, Sunday will have great impact on the markets.. I just cannot tell you what to do, honestly.
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BhaktaBasics Fxprotrader
@Fxprotrader, If you're the type of person that can't sleep then getting out of positions today would be wise! - Other than that all i can suggest is to make sure everyone has good SL's in place. Guaranteed SL's are even better if your broker allows it.
Me personally, I only have the GBPUSD position left open with risk free SL so i will sleep easy. I prefer to wait until a direction is presented to us on Monday!
Reply
Fxprotrader BhaktaBasics
@BhaktaBasics, I sleep like baby every night :) Everything in your comment is well said.. !
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BhaktaBasics Fxprotrader
@Fxprotrader, I sleep even better on Friday and Saturday nights with the aid of a few alcoholic beverages ;-)
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Have you entered way back?
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Fxprotrader IshanTripathi
@IshanTripathi, I am in from D completion of the pattern... Trade is still active..!
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Fxprotrader Fxprotrader
** D point
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