The price just broke daily resistance and is now retracing to previous resistance that now is support. The Higher high and higher close immediately makes me think "bullish", so i'll watch a this zone to get long for a test of the highs, keeping an eye on the RSI and candlestick formation for extra confirmation.
Also, if you want to get fancy, in the case that the trade goes perfect a bearish cypher pattern may complete, is too far from completing but I would like to use it as an example of discipline. In the scenario that this patter completes I would have to reverse my position a few pips before. Why would I take a bearish cypher if I just said that I'm bullish on this pair? because I have no option, my rules say that I have to take EVERY cypher, on the pairs of the portfolio of course. Trade your plan, Good trading!
Also, if you want to get fancy, in the case that the trade goes perfect a bearish cypher pattern may complete, is too far from completing but I would like to use it as an example of discipline. In the scenario that this patter completes I would have to reverse my position a few pips before. Why would I take a bearish cypher if I just said that I'm bullish on this pair? because I have no option, my rules say that I have to take EVERY cypher, on the pairs of the portfolio of course. Trade your plan, Good trading!
Trade active:
Cypher pattern completion
Trade closed: target reached:
I adjust targets, so the 1st target was hit, and the second one is at 88.43.
Trade closed: target reached:
Second target hit
Now waiting for the cypher