TomHall
Short

EUR.CHF - BEARISH CYPHER SETUP - 1.0742

FX:EURCHF   Euro / Swiss Franc
On the EUR.CHF 1hr 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 1.0742 & 1.0758
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 1.0695
Stop loss would be placed above X leg structure resistance .

Target 1 - 1.0720
Target 2 - 1.0707
Comment: EUR.CHF - D leg is now complete at 1.0742
Comment: Target 1 attained if you went short at 1.0742
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Tom, is this Cypher too late to trade? Thank you very much!

Reply
TomHall MarkSterensohn
@MarkSterensohn, Hi Mark, Yes it wouldn't be advised to open the position now.
+1 Reply
@TomHall, thank you very much!
Reply
TomHall MarkSterensohn
@MarkSterensohn, My pleasure.
Reply
congratulations to you! your 1 st target hits! you are the best!
+1 Reply
TomHall MarkSterensohn
@MarkSterensohn, Thanks very much :-)
I hope your week is going well.
Reply
Very nice recognized, bravo man!!!
+1 Reply
TomHall MarkSterensohn
@MarkSterensohn, Thanks very much mate
Reply
@TomHall, but acctually not a good idea to go short, because price is above SMA50, EMA100, EMA200. Also the price hasn't gone below EMA 200 (H1) .It has just broken pivot point R1 again. In fact we're in up- trend. But maybe next time or to try from 1.07629 level.( R2)
I guess the banks watch out strong the 200 EMA line.
+1 Reply
TomHall MarkSterensohn
@MarkSterensohn, If it doesn't fit your rules then simply look for the next opportunity.

For me personally I don't focus on banks, funds or independent traders, If the strategy you implement is well backtested and has an edge over the market then that's all you need.
+1 Reply
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