Bearish Cypher on GBPUSD with extended targets
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GBPUSD is in a clear bearish trend on 15M, and market gave me a potential entry in order to hop on that bearish trend .
Market is forming a potential bearish Advanced Harmonic Pattern - Bearish Cypher , that is perfectly aligned with the bearish trend .
Since we are in an establish trend with no recent structure level to the right I'll go for extended targets(retest of NSL and I will trail my 2nd position), with stop above current pullback.
Here are the Entry, Stop and Target Levels:
Entry @ 1,2940
Stop @ 1,2960
Initial Target 1 @ 1,2900
Initial Target 2 @ 1,2850
Good Luck!
Market is forming a potential bearish Advanced Harmonic Pattern - Bearish Cypher , that is perfectly aligned with the bearish trend .
Since we are in an establish trend with no recent structure level to the right I'll go for extended targets(retest of NSL and I will trail my 2nd position), with stop above current pullback.
Here are the Entry, Stop and Target Levels:
Entry @ 1,2940
Stop @ 1,2960
Initial Target 1 @ 1,2900
Initial Target 2 @ 1,2850
Good Luck!
BLUE43
a cypher dont have a B point at 0.7 and a D point at 1.75 my friend
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BLUE43
BLUE43
@BLUE43, i mean a C point at 1.75 this pattern is not a cypher
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Aleksandar_Rose
BLUE43
@BLUE43, For Cyphers it is crucial to look for the close price of B and C point - this pattern is 100% aligned with my rules :)
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BLUE43
Aleksandar_Rose
@Aleksandar_Rose, ur rules are something, calling something with a name that dont respect the rules from the man you study them and own the property name is another thing. You wouldnt call an Audi a Toyota, or a Fiat a Range Rover, even if its the car family :-)
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Aleksandar_Rose
BLUE43
@BLUE43, I've learned from the source with the right rules, so I don't get your point here?
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