FX:GBPUSD   British Pound / U.S. Dollar
On the GBP.USD 1hr chart we have a potential short opportunity at the D leg completion of bearish Cypher setup.

The price reversal zone on this pair is between 1.2480 & 1.2511
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 setup placed at the .382% and .618% retracement of the C to D move.
There is also opportunity to look for extended targets at around 1.2373
Stop loss would be placed above X leg structure resistance .

Target 1 - 1.2432
Target 2 - 1.2404
Comment: GBP.USD - D leg now complete at 1.2480
Comment: Target 1 at 1.2432 should you have got short at 1.2480
Comment: Long opportunity at the break above 1.2540
Your first target was on point. While I entered this trade a bit too soon, before the full completion of the D leg I still I got a small profit from it. Thanks a lot, Tom. :)
Thanks tom, 1 short hit tp 1, and another short just stop at be
Hi Tom, now it comes back up to 1.247, do you recommend to short some again? Many thanks!
+1 Reply
TomHall willzhang6
@willzhang6, Hi,
I personally wouldn't, not that it would be a bad idea but for me personally it wouldn't make sense to short now.
willzhang6 TomHall
@TomHall, Thank you so much.
+1 Reply
TomHall willzhang6
@willzhang6, My pleasure, have a great day.
+2 Reply
hi Tom, thanks for sharing, I'm in this one based on EW (too many possibilities at this point) but personally if this one hits the 2nd target I would leave a runner, this could be the start of a bigger move. happy trading to all
+1 Reply
TomHall NidalDarawsheh
@NidalDarawsheh, Hi,
My pleasure.
There certainly is a possibility of a further push lower if price breaks below 1.2404
Amazing as always , mate!!!

What's the secret. How do you choose patterns? There're many patterns. You can draw the same in 1 hour chart.

But you choose every time the right one!!!?!!!
+1 Reply
TomHall MarkSterensohn
@MarkSterensohn, Thanks very much.

There is no secret, it's all about consistency and knowing market structure.
It has taken years to implement my rules so it's all down to hard work.

I hope all is well.
+2 Reply
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