FX:USDJPY U.S. Dollar/Japanese Yen
So far the rules have been met for an advanced pattern ( ). There is strong support down by the C leg around the 1.272 fib ext. if you look left on the 240 minute chart. This could be a reversal point and possibly continue to the D leg for completion. The B to C leg is still developing but this is on my radar to watch for the next week. I am putting stops at 122.029 after D leg completion. Target 1 is at 119.871, but I am considering taking targets 1 at 120.000 if this pattern does complete and hit target 1 as projected. This is my first published idea.
Not to be an ass or anything but that is not a valid Cypher pattern, you see right next to your B point the next swing up actualy closes above the 0,618 fib making the pattern invalid. So be careful with taking this one. There is a Bear cypher on there i just published if you got interest.
I appreciate your feedback. When I posted this idea the 2nd leg up past the .618 was not in my original idea, but you are right. It is now invalid because of the close above .618 on B leg. I am trying to practice patterns but I only know the correct ratios for cypher. I am open to any advice for other pattern ratios. Thank you!