Depending on the last structure of the USD/JPY, it seems like a great opportunity to enter the market and sell the cypher pattern at the 78,6 completion and stop needs to go above X and profit target either at the previous resistance level or way back down to the C.
Good luck fellas.
Happy trading.
Good luck fellas.
Happy trading.
Note
Guys we are slowly going down, if the market is going to close below C leg, the pattern is invalid! But do you see what I see now? There are two ways to trade this as there is another pattern appearing that we could hop on.
Check it out.
Trade active
I have entered the market at 16:00 (26.01.17) at the completion of D Leg and let's wait what is going to happen next.Trade closed: target reached
Okay guys if you took the trade you might have taken a nice profit. Around 100 pips.
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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.