Hello traders, it appears CHF/JPY has formed a bullish cypher pattern on the 15m chart.
This is an excellent long opportunity with a potential 1:2 risk to reward.
The measurements for a valid cypher are detailed below.
B: 0.382 - 0.618
C: 1.272 - 1.414
X to D: 0.786
As always keep your risk in check and apply sound trading knowledge to come to trading decisions.
I have not yet executed this position, I will be monitoring today and analysing the minor/major timeframes.
The same pattern can be found on NZD/JPY 15m chart as well.
Feel free to connect with me below :)
This is an excellent long opportunity with a potential 1:2 risk to reward.
The measurements for a valid cypher are detailed below.
B: 0.382 - 0.618
C: 1.272 - 1.414
X to D: 0.786
As always keep your risk in check and apply sound trading knowledge to come to trading decisions.
I have not yet executed this position, I will be monitoring today and analysing the minor/major timeframes.
The same pattern can be found on NZD/JPY 15m chart as well.
Feel free to connect with me below :)
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