QUICK UPDATE: GBPJPY - Completed Cypher But Is Trend Done?

٩ يناير ٢٠١٧

Back 21 days ago, I posted this chart and warned those of you who were willing to listen that this pair was about to drop hard based on wave count when some other people were saying to BUY based purely on structure! Here's the chart I posted 21 days ago:

Look at the updated chart above and see what has happened since I posted that chart! Now admittedly, I closed out my SHORT trade too soon and missed out on today's drop but my members and I still managed to bank +410 pips on this trade! Had you got my signal or listened to me when I posted that chart, you would've profited!

But now, prices have dropped enough to complete a cypher pattern. But does this cypher signal the end of this drop? According to my chart above, NO! It does not. This current wave is coming to an end but it isn't there yet. It should be forming a ending diagonal and I project it to still drop as according to that chart I posted 21 days ago. But for now, we should see some retracement take place.