TomHall
Short

EUR.CAD - Bearish Cypher Setup - 1.4330

FX:EURCAD   Euro / Canadian Dollar
On the EUR.CAD 15min 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 1.4330 & 1.4353
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 1.4255
Stop loss would be placed above X leg structure resistance .

Target 1 - 1.4296
Target 2 - 1.4274
Mar 17
Comment: No trade taken, this pair is now invalid.
Mar 28
Comment: Buy stop order now in place.
Hello Tom, the level has exceeded X leg and thus trade should not be valid right? I can see that you are now into the trade? Moreover, didnt you enter on the D leg completion and thus stopped at the X leg level?
Reply
@huskay, Hi,

Please note, i am not taking this position as a pattern setup, however i am looking to take this pair long.
Reply
huskay TomHall
@TomHall, Thank you for the clarification... Great to follow your consistent strategy!!!
Reply
@huskay, My pleasure :-) Thank you.
Reply
@TomHall Sorry am I missing something did you change you view after comment it's invalid.
Your title says short but you placing a Buy Stop.?
+2 Reply
TomHall ForexBudgie
@ForexBudgie, Hi,
That's correct, the price action is his some significant levels which gives me an indication to take this pair long.
Reply
looks like stop gonna hit
Reply
@gulz, Please note, for me personally with huge candles into the D leg it's not a pending order i would set.
Reply
gulz TomHall
@TomHall, yes , agree with you - i would have watched price action -- will take care on next trade, thanks for the chart.
Reply
@gulz, My pleasure.
Reply
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