GBPUSD - Double Advanced Pattern Formation CYPHER BAT
For those who trade GBPUSD Early prediction - always great to keep on the radar - looks to be 2 advanced patterns forming. Obviously there are a couple of options depending on your rules trade 1 or trade both.
These patterns will be invalid if price action goes beyond our AC leg or go past our X legs - price action has yet to close beyond our B Legs
Targets are moved down as soon as we have D completion - to our 38.2% and 61.8% of our CD Leg - Stops are moved to break even entry level when target 1 is achieved.
Some may see the lower X leg as a favor for a safer stop limit making entry at the 88.6% for less risk. But as we see in Cyphers some almost turn on the spot as soon as entry is hit then climb to our targets. Again make sure to follow your rules and trade happy.
These patterns will be invalid if price action goes beyond our AC leg or go past our X legs - price action has yet to close beyond our B Legs
Targets are moved down as soon as we have D completion - to our 38.2% and 61.8% of our CD Leg - Stops are moved to break even entry level when target 1 is achieved.
Some may see the lower X leg as a favor for a safer stop limit making entry at the 88.6% for less risk. But as we see in Cyphers some almost turn on the spot as soon as entry is hit then climb to our targets. Again make sure to follow your rules and trade happy.