2018Dec05 CHFJPY H4 Possible Bullish Cypher

CHFJPY has been on a recent downtrend and has almost completed a bullish cypher. Upon pattern completion and confirmation of the bullish bias, I will go long. The take profit target is set at the 61.8 Fibonacci retracement level of the CD leg. Stop loss has the same number of pips as TP1. Tentative details are as follows:

Trade Setup: Possible Bullish Cypher
Price Entry 112.665
SL 112.000 | SL pips 66.5
TP2 113.74 | TP2 pips 107.5
RRR2 1.62

Order cancelled:

Price hit TP2 prior to pattern completion.