Cypher Patterns are a great way to spot entry points, with any given trend.
Cypher advanced formation is the most accurate formation among all advanced formations. It is about 70% accurate if identified correctly.
In this case, I believe that GBPJPY is creating a BEARISH Cypher Pattern.
At the point we are at, right now,(166.00) i see GBPJPY reaching my TP2 of 166.596, and then dropping to at least 165.5.
I suggest Longing to the 166.5 region and then sell once we reach 166.5.
Cypher advanced formation is the most accurate formation among all advanced formations. It is about 70% accurate if identified correctly.
In this case, I believe that GBPJPY is creating a BEARISH Cypher Pattern.
At the point we are at, right now,(166.00) i see GBPJPY reaching my TP2 of 166.596, and then dropping to at least 165.5.
I suggest Longing to the 166.5 region and then sell once we reach 166.5.