Potencial Cypher Pattern in USDJPY

Confirmations for Cypher Pattern:
- A to B must touch 0.382 but cannot exceed 0.618 (on this case B is below 0.618)
- B to C must touch 1.272 but cannot close below 1.414 (Trend-Based Fib Extension)
- C to D must touch 0.786 of X to C
- First TP at 0.618 of D to C (Fibonacci)
- Second TP at 0.382 of D to C (Fibonacci)
- Third TP back to where it all started
Good Trading. -4h Chart

Commento:

Price in UJ reached our kill zone, the 4th wave we been expecting is not made and we can see structure trying to print a posible double top before big sell.

Commento:

double top came right as expected creating a new LL and potencial new LH at the 0.618 of the new down leg. we should see trend continuation after this

Commento:

5 waves can't no longer be valid as wave 4 is not longer overlapping wave 1, wave have move far from that area creating symmetry for a channel. We can see image as how price could react if prices respect the channel