Unfortunately I was unable to post this valid bearish cypher on FX:GBPUSD much earlier. Market has just moved about 18 pips from our cypher entry point. We could still get a possible retracement to that level, which would allow you to enter into this pretty bearish cypher pattern. The risk to reward on this setup is 1:1 for the first target and than you have an additional 3rd target, which if achieved would give us 2:1 risk reward. Stops need to go above the X leg which is little bit above the 1.55000 round number. So adding 20 pips to the round number gives our stop level @ 1.55200. See the chart above for more details.
Please feel free to AGREE or DISAGREE with this idea by leaving a comment below. Hit that thumbs up button (top left corner of this chart) if you like the idea. Thank you everyone for all the SUPPORT that you have given me so far, I truly appreciate it. Good luck everyone :)
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Dagangan aktif
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Short Entry has been triggered. All the BEST to everyone :)
Komen
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UPDATE #1: Hello everyone, our first target has been reached, stop can move to break even. Risk free trade from here on forward :)
Dagangan ditutup: sasaran tercapai
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Hello traders, our second target has also been reached. All positions are now closed for this setup :)