TomHall

GBP.USD - Long & Short Cypher Pattern

FX:GBPUSD   British Pound/U.S. Dollar
On the GBP.USD 1h chart we have potential long & short opportunity at the D leg completion of a Bullish & Bearish Cypher pattern

Bullish Cypher Pattern (Green) - D leg completion 1.4420
Bearish Cypher Pattern (Grey) - D leg completion 1.4600
The PRZ zone is only a guideline of where we will be paying attention for trade setups and opportunity's.

Potential targets for both the bullish & bearish Cypher Pattern placed at the 38.20% and 61.80% retracement.

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StevenH PRO
a year ago
Nice one! ive got my eye on the same 2 patterns.
+2 Reply
TomHall TOP StevenH
a year ago
Bullish Cypher now at completion :-)
Reply
StevenH PRO TomHall
a year ago
First targets filled!! Good trading my friend!
+1 Reply
TomHall TOP StevenH
a year ago
Great work mate, have a great rest of the week.
Reply
PetriKleynhans
a year ago
Great stuff Tom.

One question, when does the cypher become invalid? Both Cyphers almost reached their target, but then had big retracements, so when is the signal for an invalid pattern?
Thanks.
+1 Reply
TomHall TOP PetriKleynhans
a year ago
Hi,
The pattern would be invalid if price exceeded the C leg, there are many ways the pattern could become invalid however aslong as it stays within your chosen Fibonacci range it will be valid.
Reply
PetriKleynhans TomHall
a year ago
Thanks Tom.
+1 Reply
TomHall TOP PetriKleynhans
a year ago
No problem at all
Reply
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