EUR.USD - BEARISH CYPHER SETUP - 1.0759
On the EUR.USD 4hr chart we have a potential short opportunity at the D leg completion of bearish Cypher setup.
The price reversal zone on this pair is between 1.0759 & 1.0870
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 at around 1.0400
Stop loss would be placed above X leg structure resistance .
Target 1 - 1.0597
Target 2 - 1.0500
The price reversal zone on this pair is between 1.0759 & 1.0870
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 at around 1.0400
Stop loss would be placed above X leg structure resistance .
Target 1 - 1.0597
Target 2 - 1.0500
Note
Note
A break of 1.0650 should confirm a test of the D leg.Note
Price now approaching the D leg completion, potential short opportunity in the coming days.Note
This setup is still valid and something to consider into early next week.Note
Note
Price now approaching the D leg completion, potential short opportunity in the coming days.Note
14 days later price has now completed at the D leg.
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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.