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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Market is now approaching D leg completion.
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5 easy steps to trade the Bat setup
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5 easy steps to trade the Gartley 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
İşlem kapandı: hedefe ulaştı
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Awaiting a minor corrective period prior to another push lower towards 140.500
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