Happy NEW YEAR Traders !! Cypher Short on GBPJPY
Hey Traders,
Good morning and good year ! I hope you had an awesome vacation and time with those loved ones. I had a phenomenal time away from the trading desk, Traveled for a bit, had a great time with my fiance, and we got back yesterday to start settling in. It feels really good to have taken a break from the charts, and now coming back with a fresh look is always helpful. Usually when I am away from the markets I lose its pulse and it takes a week or two to get it back. If you feel the same way, don't worry its normal.
Today on the charts we have two opportunities on the radar. The one I am bringing to your attention is this Cypher on GBPJPY H1 chart. It's close to being completed and it follows the H1 trend which is bearish. We are definitely bullish in the longer term but for our patterns, we focus strictly on the trading timeframe. As you know, stops would go above X (X is the starting point all the way to the left. then comes ABCD points) and targets can be the 38.2 and 61.8 retracements of the CD leg.
Like always, if you have any questions feel free to comment below
Good morning and good year ! I hope you had an awesome vacation and time with those loved ones. I had a phenomenal time away from the trading desk, Traveled for a bit, had a great time with my fiance, and we got back yesterday to start settling in. It feels really good to have taken a break from the charts, and now coming back with a fresh look is always helpful. Usually when I am away from the markets I lose its pulse and it takes a week or two to get it back. If you feel the same way, don't worry its normal.
Today on the charts we have two opportunities on the radar. The one I am bringing to your attention is this Cypher on GBPJPY H1 chart. It's close to being completed and it follows the H1 trend which is bearish. We are definitely bullish in the longer term but for our patterns, we focus strictly on the trading timeframe. As you know, stops would go above X (X is the starting point all the way to the left. then comes ABCD points) and targets can be the 38.2 and 61.8 retracements of the CD leg.
Like always, if you have any questions feel free to comment below