Nice cypher forming on USD/JPY, this setup looks promising.

Depending on the last structure of the USD/JPY, it seems like a great opportunity to enter the market and sell the cypher pattern at the 78,6 completion and stop needs to go above X and profit target either at the previous resistance level or way back down to the C.

Good luck fellas.

Happy trading.

Commento:

Guys we are slowly going down, if the market is going to close below C leg, the pattern is invalid!

But do you see what I see now? There are two ways to trade this as there is another pattern appearing that we could hop on.

Check it out.

Trade attivo:

I have entered the market at 16:00 (26.01.17) at the completion of D Leg and let's wait what is going to happen next.

Trade chiuso: obiettivo raggiunto:

Okay guys if you took the trade you might have taken a nice profit. Around 100 pips.