On the EUR.CAD 1hr chart we have a potential short opportunity at the D leg completion of bearish Cypher setup.
The price reversal zone on this pair is between 1.4101 & 1.4131 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 at around 1.4005 Stop loss would be placed above X leg structure resistance .
Target 1 - 1.4058 Target 2 - 1.4031
Comment
⋅
Daily outlook.
Comment
⋅
Potential breakout on the 1hr TF.
Comment
⋅
Price has now broken the C leg which invalidates this setup.
Comment
⋅
D leg completion as price makes its way to Target 1 if you entered at 1.4101
Comment
⋅
Your target 2 should now be attained if you entered at 1.4101
Comment
⋅
Your extended target should now be attained if you entered at 1.4101