CHF/JPY - Bearish Cypher

7 במרץ 2017

Hello traders, it appears CHF/JPY is now forming a bearish cypher pattern on the 4h chart. This is an excellent opportunity with a potential 200+ pip return!

The measurements for a valid cypher are detailed below.
B: 0.382 - 0.618
C: 1.272 - 1.414
X to D: 0.786

I'll be expecting price to stall out once it reaches the D point, keep this setup on your watch list.

I hope you all have a great week :)