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USDJPY - Huge Bearish Cypher on DailyFor weeks I've been looking at the potential Bearish Cypher on USDJPY on Daily Charts, and this week market hit the entry level. As you can clearly see the stop loss is so huge if you enter right away at completion level, so I was waiting for the market to go further in the PZR in order to get less than 100 pips stop. Currently there is less than 100 pips and price is still in the PRZ so I've shorted it - a huge bet, but with almost 1:2 R/R. Here are the Entry, Stop and Target Levels: Entry @ 114.16 Stop @ 115.08 Initial Target 1 @ 112.11 Initial Target 2 @ 110.84 Good Luck!
Short
by Aleksandar_Rose
4
Bearish Cypher on GBPUSD with extended targetsGBPUSD is in a clear bearish trend on 15M, and market gave me a potential entry in order to hop on that bearish trend. Market is forming a potential bearish Advanced Harmonic Pattern - Bearish Cypher, that is perfectly aligned with the bearish trend. Since we are in an establish trend with no recent structure level to the right I'll go for extended targets(retest of NSL and I will trail my 2nd position), with stop above current pullback. Here are the Entry, Stop and Target Levels: Entry @ 1,2940 Stop @ 1,2960 Initial Target 1 @ 1,2900 Initial Target 2 @ 1,2850 Good Luck!
Short
by Aleksandar_Rose
5