Bearish Cypher Pattern 4HR Chart
Updated
Price action has confirmed its bearish rotation by breaking through the previous support around 145.280 and closing below. Price action is now creating a Lower high and in doing so has created a bearish Cypher pattern.
I am currently short with 2 positions targets.
Target 1 145.251 (61.8 PIPS)
Target 2 144.783 (108.5 PIPS)
Potential total trade winnings (170.3 PIPS)
Potential Trade Loss (-115.4 PIPS)
Bearing in mind price action could possibly push up higher, creating that that lower high also a 2618 entry reason
I am currently short with 2 positions targets.
Target 1 145.251 (61.8 PIPS)
Target 2 144.783 (108.5 PIPS)
Potential total trade winnings (170.3 PIPS)
Potential Trade Loss (-115.4 PIPS)
Bearing in mind price action could possibly push up higher, creating that that lower high also a 2618 entry reason
Trade closed: stop reached
Re entered Short again as i got stopped out on the Cypher entry
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.