EUR.USD - Long Opportunity At 1.0905
Updated
On the EUR.USD 1hr chart we have a potential long opportunity at the D leg completion of bullish Cypher setup.
The price reversal zone on this pair is between 1.0905 & 1.0874
The PRZ zone is only a guideline of where we will be paying attention for trade setups and opportunity's.
Potential targets for the Cypher setup placed at the .382% and .618% retracement of the C to D move.
There is also opportunity to look for extended targets back into 1.100
Stop loss would be placed below X leg structure support.
Target 1 - 1.0950
Target 2 - 1.0977
The price reversal zone on this pair is between 1.0905 & 1.0874
The PRZ zone is only a guideline of where we will be paying attention for trade setups and opportunity's.
Potential targets for the Cypher setup placed at the .382% and .618% retracement of the C to D move.
There is also opportunity to look for extended targets back into 1.100
Stop loss would be placed below X leg structure support.
Target 1 - 1.0950
Target 2 - 1.0977
Note
29th April analysis tying in nicely with today's analysis.
Note
1hr chart RSI still not yet oversold which indicates to me further downside is to come.Note
Bullish RSI divergence has not yet formed on the 15min TF so another impulse to the downside is expected.Note
D leg now complete at 1.0905I will await confirmation prior to any pending order placement.
Note
Hi traders,I have had many traders asking me about my rules for entry as they are not a standard D leg completion entry.
Although i don't disclose the indicators i use nor my entry, i have attached below how a break down pairs prior to entry.
I hope it helps.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.