tntsunrise
Long

EURCAD LONG IDEA

FX:EURCAD   Euro / Canadian Dollar
239 6 16
CYPHER COMPLETE AT 1.4660
AB=CD MOVE : 1.4733
RSI already over sold.
but MACD continues to fall
ready to long!
A bounce off the 0.618 fib retracement from the Jan 6th low is not unexpected and could be a place to add to shorts.

Weekly and monthly charts are of more significance, with weekly MACD heading down, monthly MACD rolling over and a shooting star candle in March.

Both charts suggest that a deeper retracement may be on the cards.
+1 Reply
Definitely a waiter. What do you guys think?
Reply
I missed the cypher but I have a butterfly pattern on my daily, with the XA leg corresponding to your BC leg.

The 1.272 extension of this XA leg would be at 1.47145, which ties in nicely with your cypher.

I am currently net short but looking to reverse if the AB=CD completes.
Reply
well done! i believe you can catch both wave
Reply
C can also be higher than A point?
Reply
tntsunrise stoneman326
yes . this is a cypher pattern. not gartley or bat or butterfly
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