On the EUR.CAD 1hr chart we have a potential long opportunity at the D leg completion of bullish Cypher setup.
The price reversal zone on this pair is between 1.4352 & 1.4285 The PRZ zone is only a guideline of where we will be paying attention for trade setups and opportunity's.
Potential targets for the Cypher setup placed at the .382% and .618% retracement of the C to D move. There is also opportunity to look for extended targets back into 1.4550 Stop loss would be placed below X leg structure support.
Target 1 - 1.4446 Target 2 - 1.4506
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Please Note: I currently have a buy stop order placed on this pair awaiting the bounce and break.
Good evening TomHall, about your entry point: as I see it just broke 1.4352 upwards would you advise to buy long if this level holds for a certain amount of time?
UnknownUnicorn180388
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@ShadeGhost, I unfortunately can't advise on entry and it's not something i provide on this platform, however if it meets your rules then i would enter.
ShadeGhost
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@tomhall, Understood, makes sense. Thanks for the chart!