GBPUSD, 4hr tf, Bearish cypher pattern could be in play
Based on the 4hr timeframe, I spotted a potential bearish cypher patern on GBPUSD.
Price was rejeted from 1.2665-1.2630 area for 3 times and today we saw price touching this area again
Since this sell position offering a nice 1:5 RR ratio, i think it is worh to try it.
Also cypher pattern is one of the most reliable harmonic pattern so i am going to sell GBPUSD from this point
Sell GBPUSD 1.2630
Stop loss 1.2700
Take profit 1 @ 1.2515
Take profit 2 @ 1.2400
Take profit 3 @ 1.2270
good luck
Price was rejeted from 1.2665-1.2630 area for 3 times and today we saw price touching this area again
Since this sell position offering a nice 1:5 RR ratio, i think it is worh to try it.
Also cypher pattern is one of the most reliable harmonic pattern so i am going to sell GBPUSD from this point
Sell GBPUSD 1.2630
Stop loss 1.2700
Take profit 1 @ 1.2515
Take profit 2 @ 1.2400
Take profit 3 @ 1.2270
good luck
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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.
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.