GBP/USD - Cypher Pattern

FX:GBPUSD   British Pound / U.S. Dollar
1378 6 38
On the GBP/USD             4h chart we have a potential short opportunity at a strong resistance zone .

As you can see price has surpassed the D leg of the Cypher Pattern , so now I feel it is necessary for price to hit 1.550 psychological number before looking short on this pair.

The price reversal zone is between 1.545 & 1.550 which is large, this is due to price narrowly touching 0.382 B leg, giving a much shorter D leg completion.
The PRZ zone is only a guideline of where we will be paying attention for trade setups and opportunity's.

Potential targets for the Cypher Pattern placed at the .382% and .618% retracement of the C to D move.
Stop loss would be placed above X leg structure resistance .


Learn To Trade The Cypher Pattern .
Had same for weekly analysis idea. Good to know you are in it too.
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I agree with GBP reversal; just different pair.
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Very good, I have a short lined up as well but purely based on the re-test of previous structure.
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alex.a Nico.Muselle
Nico, What is the first indicator? The name is invisible ~
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That would be the ATR - 14 period, I use it to determine how far the SL should go above structure
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alex.a Nico.Muselle
I have more questions. I PM you.
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