TomHall
Short

GBP.USD - BEARISH CYPHER SETUP - 1.2480

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
Website: http://www.UKForexSignals.com
Instagram: http://www.Instagram.com/UK_Forex_Signals
Instagram: http://www.Instagram.com/Tom_Hall_Official
Twitter: http://www.Twitter.com/Tom_H_Official
StockTwits: http://www.StockTwits.com/TomHall
Facebook: http://www.Facebook.com/UKForexSignals
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. :)
Reply
Thanks tom, 1 short hit tp 1, and another short just stop at be
Reply
Hi Tom, now it comes back up to 1.247, do you recommend to short some again? Many thanks!
+1 Reply
TomHall TOP 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.
Reply
willzhang6 TomHall
@TomHall, Thank you so much.
+1 Reply
TomHall TOP 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 TOP NidalDarawsheh
@NidalDarawsheh, Hi,
My pleasure.
There certainly is a possibility of a further push lower if price breaks below 1.2404
Reply
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 TOP 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
United States
United Kingdom
India
España
France
Italia
Polska
Brasil
Россия
Türkiye
Indonesia
Malaysia
日本
한국
Home Stock Screener Forex Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing Priority Support Ideas Published Followers Following Private Messages Chat Sign Out