GBPJPY 15 Bearish CYPHER PATTERN @ 157.64
Hi Guys,
This is a bearish CYPHER pattern @ 157.64 and stop loss will be placed above the X leg which we use as good resistance in this case. TARGETS ON THIS TRADE WILL BE DIFFERENT TO USUAL AS I VIEW THIS AS A DOWN-TRENDING PAIR, THEREFORE TARGETS WILL BE AT SUPPORT/RESISTANCE LEVELS. IF/WHEN first targets are met, half of the position would be closed for profit and stop loss for the second half of the position will be moved to break-even, ensuring a risk-free trade.
Thank you for your support.
Trade Numbers:
Risk: 57 x 2 = 114 pips
Reward #1: 57 pips. R:R = 1:1
Reward #2: 115 pips. R:R = 1:2
Plan your trade... Trade your plan.
This is a bearish CYPHER pattern @ 157.64 and stop loss will be placed above the X leg which we use as good resistance in this case. TARGETS ON THIS TRADE WILL BE DIFFERENT TO USUAL AS I VIEW THIS AS A DOWN-TRENDING PAIR, THEREFORE TARGETS WILL BE AT SUPPORT/RESISTANCE LEVELS. IF/WHEN first targets are met, half of the position would be closed for profit and stop loss for the second half of the position will be moved to break-even, ensuring a risk-free trade.
Thank you for your support.
Trade Numbers:
Risk: 57 x 2 = 114 pips
Reward #1: 57 pips. R:R = 1:1
Reward #2: 115 pips. R:R = 1:2
Plan your trade... Trade your plan.
Order cancelled:
Pattern Invalidated
