Hi traders,
On the GBPUSD can see a potential cypher pattern forming. Completion is at point D. The original entry for this pattern is at the 78.6% Fibonacci retracement, but I like to use the 88.6% Fibonacci retracement, because of the larger R:RR. Target is based on previous structure.
Entry: 1.29031
Stop: 1.28225
Target: 1.30608 = R:RR 1.96
Good luck! Updates will follow.
On the GBPUSD can see a potential cypher pattern forming. Completion is at point D. The original entry for this pattern is at the 78.6% Fibonacci retracement, but I like to use the 88.6% Fibonacci retracement, because of the larger R:RR. Target is based on previous structure.
Entry: 1.29031
Stop: 1.28225
Target: 1.30608 = R:RR 1.96
Good luck! Updates will follow.
Order cancelled
The C leg has closed beyond the 141.1% Fibonacci extension, so the pattern is no longer valid. Entry deleted.
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.