GBP.USD - BEARISH CYPHER SETUP - 1.2570
Updated
On the GBP.USD 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 1.2570 & 1.2732
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 1.2080
Stop loss would be placed above X leg structure resistance .
Target 1 - 1.2345
Target 2 - 1.2201
The price reversal zone on this pair is between 1.2570 & 1.2732
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 1.2080
Stop loss would be placed above X leg structure resistance .
Target 1 - 1.2345
Target 2 - 1.2201
Note
5 EASY STEPS TO TRADE THE GARTLEY PATTERN
Note
Price approaching oversold on the 1hr chart.Note
Note
Price has now broke above B leg resistance, a potential short opportunity early this week.Note
D leg is now complete, potential short opportunity.Note
If you entered the market at 1.2570 your target should now be attained.
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