EURCAD: Cypher Long

FX:EURCAD   Euro / Canadian Dollar
Hey traders,

Here in EURCAD we have two Bullish Cyphers. Usually when we have two cyphers, we have to pick between the two since the stop loss overlaps with the entry of the other one. This time, I don't have to do that since the stop loss of the first pattern is above the entry of the other pattern, So if the first patterns turns out to be a loser, then i can take the second pattern immediately after.

The best thing about having your rules set is that when a situation presents itself, you are always prepared. In truth, that's the name of the game. That's how you stay in the "zone". Never let the market catch you off guard, always know what your plan is. That way you can stay a few steps ahead of the market. The only way of doing that is by having black and white rules that tell you specifically what you need to do or not do, and that will remove most of the confusion you carry in the markets.

Hope this helps,
Like always if you have any questions, comment below, follow us on social media !

Daniel Garnier - Founder of The Alcove Fx
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