2018Oct20 EURAUD H1 Bearish Cypher
EURAUD has been on a downtrend and a bearish cypher has completed. Upon confirmation of the bearish bias, I will go short. Stop loss has the same number of pips as TP1. The take profit target is set at the 61.8 Fibonacci retracement level of the leg CD. Trade details are as follows:
Trade Setup: Bearish Cypher
Price Entry 1.61848
SL 1.62366 | SL pips 51.8
TP2 1.61010 | TP2 pips 83.8
RRR2 1.62
EURAUD has been on a downtrend and a bearish cypher has completed. Upon confirmation of the bearish bias, I will go short. Stop loss has the same number of pips as TP1. The take profit target is set at the 61.8 Fibonacci retracement level of the leg CD. Trade details are as follows:
Trade Setup: Bearish Cypher
Price Entry 1.61848
SL 1.62366 | SL pips 51.8
TP2 1.61010 | TP2 pips 83.8
RRR2 1.62
Order cancelled:
There is now a swing higher than the X point which invalidated the setup.