Euro / U.S. DollarShort
2018Oct10 EURUSD H1 Possible Bearish Cypher
EURUSD has been on a downtrend and there is a possible bearish cypher nearing its completion. As I am expecting the downtrend to continue and with confirmation of the bearish bias, I will go short at 1.15246. Stop loss is just above the X point and the take profit target is set at the 61.8 Fibonacci retracement level of the CD leg. Tentative details are as follows:
Trade Setup: Possible Bearish Cypher
Price Entry 1.15246
SL 1.15599 | SL pips 35.3
TP2 1.14675 | TP2 pips 57.1
RRR2 1.62
Trade Setup: Possible Bearish Cypher
Price Entry 1.15246
SL 1.15599 | SL pips 35.3
TP2 1.14675 | TP2 pips 57.1
RRR2 1.62
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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.