GBP/JPY is setting up for what could be an awesome bearish cypher pattern. The best part about it is, the opportunity that might be presented for those traders that have smaller accounts and can't take the amount of risk that a normal cypher pattern usually presents on a 4hr chart. This cypher completes at 182.820 and there is a nice shelf of structure at both the 184.000 (thick purple line) & 185.000 handle (which is where the X leg begins). So for those traders that cannot take the amount of risk that putting a limit order at the .786 entails, you can wait and see if price action will go up to the kill zone I have lined out and then make a structure play. As you can see on the chart, its definitely not out of the realm of possibility that P/A could get up there. Then you can go down to the 1hr timeframe and look for a double top with bearish divergence, or whatever your rules of engagement are for entering. Either way, this is one that I will definitely be watching, for it could be a very good opportunity.
Commentaires
TNT88
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it's nice to meet with jason's other student here, nice share and keep it up.
tommyb35
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I started teaching myself about the markets two years ago, and came across Jason's you tube video on how the secret to Fibonacci. Since then I have watched every single video and training that both Jason and Akil have put out and I have watched them at least two or three times. I could never afford the 12 week transformation, but there free trainings are so valuable that those alone have made me a successful trader. Jason and Akil wouldn't know me if they tripped over me in the street, but I cannot give them enough thanks. Thank you for the positive comment.