TradingView
UnknownUnicorn180388
Nov 15, 2016 5:59 PM

EUR.CAD - BULLISH CYPHER SETUP @ MARKET - 1.4439 Long

FX:EURCAD240
Euro Fx/Canadian DollarFXCM

Description

⋅
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
ukforexsignalsBullish PatternsbuyLONGEURCADCypherHarmonic Patternsxabcd
Comments
AkashGaur
⋅
Great setup buddy. Usually hate trading cad but this might be good so might as well look into this one myself
UnknownUnicorn180388
⋅
@Fxtoronto, Thanks mate, multiple confluence factors giving a nice potential opportunity.
PjMiz
⋅
Liking this bounce off the yearly trend line too. Should make for a nice play. Still awaiting some hourly reversal confirmations. Thanks, Tom.
UnknownUnicorn180388
⋅
@PjMiz, Price is now stalling at the 1.44 area, we will have to see what happens.
Gbprider
⋅
@tomhall, i think it will drop to next support 1.4290
UnknownUnicorn180388
⋅
@Gbprider, It is certainly a possibility
juklangel11
⋅
this cypher is not valid, c surpassed a, therefore invalidation this set up
UnknownUnicorn180388
⋅
@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.
More