USDCAD 4H Bearish CYPHER PATTERN @ 1.2870
Updated
Hi Guys,
This is a bearish CYPHER pattern @ 1.2870 and stop loss will be placed above the X leg which is used as good resistance in this case. Targets will be at the 38.2% and 61.8% fibonacci levels. IF/WHEN first targets are met, half of the position would be closed for profit and stop loss for the second half of the position will be moved to break-even, ensuring a risk-free trade.
Thank you for your support.
Trade Numbers:
Risk: 150 pips x 2 = 300 pips
Reward #1: 160 pips. R:R = 1:1.05
Reward #2: 255 pips. R:R = 1:1.70
Plan your trade... Trade your plan.
This is a bearish CYPHER pattern @ 1.2870 and stop loss will be placed above the X leg which is used as good resistance in this case. Targets will be at the 38.2% and 61.8% fibonacci levels. IF/WHEN first targets are met, half of the position would be closed for profit and stop loss for the second half of the position will be moved to break-even, ensuring a risk-free trade.
Thank you for your support.
Trade Numbers:
Risk: 150 pips x 2 = 300 pips
Reward #1: 160 pips. R:R = 1:1.05
Reward #2: 255 pips. R:R = 1:1.70
Plan your trade... Trade your plan.
Trade active
Order filled, short @ 1.2870
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