TomHall
Long

EUR.CAD - BULLISH CYPHER SETUP @ MARKET - 1.4439

FX:EURCAD   Euro / Canadian Dollar
On the EUR.CAD 4hr chart we have a potential long opportunity's at the D leg completion of bullish Cypher setup.

The price reversal zone on this pair is between 1.4439 & 1.4267
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 the 1.5172 resistance level
Stop loss would be placed below X leg structure support .

Target 1 - 1.4750
Target 2 - 1.4960
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Liking this bounce off the yearly trend line too. Should make for a nice play. Still awaiting some hourly reversal confirmations. Thanks, Tom.
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@PjMiz, Price is now stalling at the 1.44 area, we will have to see what happens.
+1 Reply
Gbprider TomHall
@TomHall, i think it will drop to next support 1.4290
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TomHall Gbprider
@Gbprider, It is certainly a possibility
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this cypher is not valid, c surpassed a, therefore invalidation this set up
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TomHall juklangel11
@juklangel11, This Cypher setup is not valid in your rules, the market in general is subjective and aslong as one has profitable long term results that is all that matters.
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Great setup buddy. Usually hate trading cad but this might be good so might as well look into this one myself
+1 Reply
TomHall AkashGaur
@Fxtoronto, Thanks mate, multiple confluence factors giving a nice potential opportunity.
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