Short

GBP.JPY - BEARISH CYPHER SETUP - 145.464 - ( Happy New Year )

Updated

On the GBP.JPY 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 145.464 & 146.352
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 142.600
Stop loss would be placed above X leg structure resistance .

Target 1 - 144.188
Target 2 - 143.389

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We are now live in 2017, I hope everyone has a great year!

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Market is now approaching D leg completion.

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5 easy steps to trade the Bat setup

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Price now approaching D leg completion.

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Target should now be attained.

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Potential Target 2 approaching if we see a breakout of 143.756

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Target 2 has been attained if you entered the market at 145.464

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Extended targets should be attained if you entered the market at 145.464

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One more potential push to the downside if price respects the 143.900 area

Trade closed: target reached

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Awaiting a minor corrective period prior to another push lower towards 140.500

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Building the perfect high probability positions.

EUR.GBP - The Perfect High Probability Positions

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