TomHall
Short

GBP/USD - Cypher Pattern

FX:GBPUSD   Pound Sterling/U.S. Dollar
1279 4 33
On the GBP/USD             1h chart we have a potential short opportunity at the D leg completion of a Cypher Pattern .

The D leg completion comes in at a nice resistance level which had been tested multiple times.
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 .

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thanks
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snapshot

do u think it will go up on trend line break. ???
+1 Reply
Hi DRK,
It would all depend on how you draw your trend lines, on some trades charts this has already broken the trend line.
The Patterns are based on other indications, however it shouldn't matter if it does or does not hit our D leg completion as long as we are aware of it and know what to do when it hits this area.
+1 Reply
have bought pound for the target of "D" as per your charts
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