TomHall
Long

EUR.CAD - BULLISH CYPHER SETUP @ MARKET - 1.4439

FX:EURCAD   Euro Fx/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.
Reply
@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
Reply
TomHall TOP Gbprider
@Gbprider, It is certainly a possibility
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this cypher is not valid, c surpassed a, therefore invalidation this set up
Reply
TomHall TOP 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.
Reply
Great setup buddy. Usually hate trading cad but this might be good so might as well look into this one myself
+1 Reply
TomHall TOP AkashGaur
@Fxtoronto, Thanks mate, multiple confluence factors giving a nice potential opportunity.
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