Price is now approaching the D leg completion of the bearish Cypher Pattern at 120.904. There are 3 potential targets available for the Cypher Pattern.
1. 0.382% retracement of the C to D move - 120.329 2. 0.618% retracement of the C to D move - 119.971 3. Awaiting price to fall to the D leg completion of the Gartley Pattern - 118.887
Although advanced and harmonic patterns are based purely of price action, we always should be cognizant of the JPY data which will be released at 00.50 GMT
Just for fun, checkout my pennant swing trade. The swing high is pretty damn close to your D :)
UnknownUnicorn180388
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Let's hope our stars align :-)
DJC
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Let's hope. The thing is... if the bearish pennant is valid, (which is not a reliable pattern), it could be a continuation of the big falls UJ has already taken. Meaning a big tumble could be seen. The great thing about trading pennants and patterns for continuation is often they allow for immense RRR with super tight SL.
Let's see, best of luck.
UnknownUnicorn180388
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It's now right up into the PRZ zone.
Best of luck also.
Just for fun, checkout my pennant swing trade. The swing high is pretty damn close to your D :)