CADJPY 60 Bearish CYPHER PATTERN @ 84.75

FX:CADJPY   Canadian Dollar / Japanese Yen
Hi Guys,

This is a bearish CYPHER pattern @ 74.10 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: 65 pips x 2 = 130 pips
Reward #1: 67 pips. R:R = 1:1
Reward #2: 108 pips. R:R = 1:1.65

Plan your trade... Trade your plan.
Order cancelled: Pattern Invalidated. Lose nothing, gain nothing.
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