ilmscore | Prediction Details
"so we're going to start today's video out on the pound dooll hourly chart with an advanced Cipher pattern that we're currently involved in so let's check out our entry on that trade all right guys so here on the pound dollar we actually had a pretty nice Cipher pattern set up here on the hourly chart and we've just got involved in that at a little better of than our original entry which would have been here around the 786 retracement so instead of that I didn't catch this until a little bit higher and I was able to get a better entry up closer to the 886 retracement so let's go ahead and draw this pattern out here we have X to a our impulsive move that broke through our previous level OB structure A to B with the extension and B up to C at that 786 but as I said we got involved closer to that 86 retracement now let's go ahead and check out targets so we pull up to that entry point put on our Target taking tool and take our targets at the 382 with a stop loss above our previous level of structure which is going to be 43 Pips on that stop loss so because we were able to get involved in this Cipher pattern at a little bit better of an entry we actually gave ourselves a much better risk reward if you trade the cipher pattern than you know normally you get an inverted risk reward using this pattern and what I mean by inverted if you're new to trading is that you will have less than a one toone risk reward for instance you'll be risking 44 Pips to make 39 38 or making less Pips on your target than you're risking on your stop loss but because we were able to get involved in this Cipher pattern a little bit later we actually now have a better risk reward at a 1.4 to one so I'll keep you guys updated as this trade plays out and hopefully we'll push down from this Cipher pattern entry and at least clip our first targets here at the 382 retracement"
By The Trading Channel (The Trading Channel) | February 1, 2017 | Pending
From video
Advanced Pattern Watchlist ( episode 2 ) 00:01:51 - 00:03:40
Interpreted Prediction
The speaker was involved in a Pound/Dollar hourly chart Cipher pattern, getting an entry closer to the 886 retracement. Targets were set at the 382 retracement with a stop loss at 43 pips, resulting in a 1.4 to 1 risk-reward ratio.

Prediction Details

Ticker
GBPUSD

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