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UnknownUnicorn180388
Mar 16, 2017 1:16 PM

EUR.CAD - Bearish Cypher Setup - 1.4330 Short

FX:EURCAD15
Euro Fx/Canadian DollarFXCM

Description

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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

Comment

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No trade taken, this pair is now invalid.

Comment

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Buy stop order now in place.
ukforexsignalsEURCADeurcadshort
Comments
ForexBudgie
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@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.?
UnknownUnicorn180388
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@ForexBudgie, Hi,
That's correct, the price action is his some significant levels which gives me an indication to take this pair long.
ZCTFOREX
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Is it still valid?

UnknownUnicorn180388
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@ZCTFOREX, Everything is still valid yes :-)
ZCTFOREX
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@tomhall, :) Thanks!
ZCTFOREX
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@tomhall, You´re my GURU...! Let´s see Episode II....:)
UnknownUnicorn180388
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@ZCTFOREX, lol thank you :-)
huskay
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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?
UnknownUnicorn180388
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@huskay, Hi,

Please note, i am not taking this position as a pattern setup, however i am looking to take this pair long.
huskay
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@tomhall, Thank you for the clarification... Great to follow your consistent strategy!!!
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