There could b a couple of different shorting opportunities setting up on the EuroDollar this week. The first one I'm interested in would be this bearish Cypher pattern, using standard pattern entries & targets.
Within the C-D completion leg of the Cypher pattern, there is also the potential for an equal measured move, which would then complete up towards the 161.8% extension of the initial A-B leg. This would also be up retesting previous structure highs which are at a significant level on this pair.
A couple of choices of how you might choose to involve yourself depending on how you trade. Let's see how it plays out!
Within the C-D completion leg of the Cypher pattern, there is also the potential for an equal measured move, which would then complete up towards the 161.8% extension of the initial A-B leg. This would also be up retesting previous structure highs which are at a significant level on this pair.
A couple of choices of how you might choose to involve yourself depending on how you trade. Let's see how it plays out!
Trade closed: target reached
Fed meeting last night triggered and closed this trade for two targets within the hour! Frontrunning for the win!
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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.