Potential bullish Cypher pattern froming on GBPJPY

3. Sept. 2016

Another pattern in the making, Bullish Cypher. Looking for completion and entry @ 136.148 @ the 78.6 X-C retracement level marked in the PRZ. Hopefully price action will make its way into the PRZ and reverse. There is a lot of Fib ratio confluence in that area which makes it a potentially strong area to look for a reversal. Also if price manages to reach the PRZ @ the 200% extension then the market is likely to be oversold which will be shown on the RSI and gives us extra confluence. Lets see how it pans out :)

9. Sept. 2016

Trade geschlossen: Stop wurde erreicht

Unfortunately got stopped out on this one. Cant win them all. Its part of the game :)