USDJPY Cypher
Hey Guys,
After getting stopped out of a short Bat pattern were back in another short, this time a Cypher.
Been in this USDJPY 4H Cypher now for around a week, after almost getting stopped out, as well as almost hitting targets we are now edging around the break even point again. The nice deep B point gave us a good Risk Reward on this trade, especially for a Cypher pattern.
Note - Price Action has recently broke and close above X @ 104.32 which makes this pattern invalid. HOWEVER, when I entered this trade it met my rules and was valid - as a result I must now remain in the position until either my stop loss or target is hit - even though we should expect the stop loss to be hit.
Will be paying attention to this trade and hopefully it will have completed towards the end of the week. Until then, no further positions can be taken on this pair.
Fibsii Team.
After getting stopped out of a short Bat pattern were back in another short, this time a Cypher.
Been in this USDJPY 4H Cypher now for around a week, after almost getting stopped out, as well as almost hitting targets we are now edging around the break even point again. The nice deep B point gave us a good Risk Reward on this trade, especially for a Cypher pattern.
Note - Price Action has recently broke and close above X @ 104.32 which makes this pattern invalid. HOWEVER, when I entered this trade it met my rules and was valid - as a result I must now remain in the position until either my stop loss or target is hit - even though we should expect the stop loss to be hit.
Will be paying attention to this trade and hopefully it will have completed towards the end of the week. Until then, no further positions can be taken on this pair.
Fibsii Team.
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