EUR.USD - BULLISH CYPHER SETUP - 1.0580
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 1.0580 & 1.0526
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 1.0788
Stop loss would be placed below X leg structure support.
Target 1 - 1.0658
Target 2 - 1.0707
The price reversal zone on this pair is between 1.0580 & 1.0526
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 1.0788
Stop loss would be placed below X leg structure support.
Target 1 - 1.0658
Target 2 - 1.0707
Note
Monthly outlook.
Note
I am looking to take this pair short into next week based on a my alternative entry strategy.Awaiting a break below 1.0700 to confirm.
Note
Price retesting the D leg completion.
Note
Note
Please note, this setup is still valid until price exceeds the C leg.Note
Note
Daily Pattern outlook as price breaks 1.0800.
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.
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.