looking for this potential bearish Cypher on the EUR/USD 30 min timeframe to complete.
Cypher completion will be at the 78.6% retracement from the X to C leg. this will be the short entry zone. price looking to sell around 1.0875. Stoploss should be placed at least 20 pips above X , Probably around 1.0925.
Exit depends on your own strategy, i choose to take 2 profit targets in this analysis.
First take profit target at the 38,2 % retracement from C o D leg.
Second take profit target at the 61,8 % retracement from the C to D leg
Always looking for feedback on my analysis, so be sure to comment !
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Cypher completion will be at the 78.6% retracement from the X to C leg. this will be the short entry zone. price looking to sell around 1.0875. Stoploss should be placed at least 20 pips above X , Probably around 1.0925.
Exit depends on your own strategy, i choose to take 2 profit targets in this analysis.
First take profit target at the 38,2 % retracement from C o D leg.
Second take profit target at the 61,8 % retracement from the C to D leg
Always looking for feedback on my analysis, so be sure to comment !
Follow me on twitter : PalmTreeTrading
Follow me on Tradingview : tradingview.com/u/PalmTreeTrading/
Followme on Instagram : instagram.com/palmtreetrading/
Trade closed: target reached
After trade opening, price came down fast for a target 2 winner !
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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.