TradingView
UnknownUnicorn180388
Dec 9, 2016 9:00 AM

EUR.GBP - BULLISH CYPHER SETUP - .8360 Long

FX:EURGBP60
Euro Fx/British PoundFXCM

Description

⋅
On the EUR.GBP 1hr 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 .8360 & .8304
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 .8537 resistance level
Stop loss would be placed below X leg structure support.

Target 1 - .8440
Target 2 - .8490

Comment

⋅
Price action is approaching the D leg at .8360

Comment

⋅
Bullish RSI divergence has now formed.

Comment

⋅
5 EASY STEPS TO TRADE THE GARTLEY PATTERN


Comment

⋅
Market open.
Potential live entry if your plan allows you to take the position at .8360

Comment

⋅
EUR.GBP is still available for a long entry.
ukforexsignalsbuyLONGBullish PatternsHarmonic PatternsEURGBPeurgbplongxabcd
Comments
aqualoop
⋅
We watching Tomm, please alert us wen it happens
UnknownUnicorn180388
⋅
@aqualoop, I will do my best.
PasinduRashmika
⋅
This is also a great setup. Thank You Tom...
UnknownUnicorn180388
⋅
@PasinduRashmika, My pleasure, have a great day.
onewhitmore
⋅
Hey Tom! Just out of interest do you ignore the spike like the one at the top of the cypher? What's your past experience of them effecting the pattern completion?
UnknownUnicorn180388
⋅
@onewhitmore, Hi, For me personally it is fine the pattern will have the same profitable edge.
onewhitmore
⋅
@tomhall, Thanks! I'm watching this one as well so good luck with it. Have a good day.
UnknownUnicorn180388
⋅
@onewhitmore, My pleasure, you too.
DfatTrader
⋅
Finally!! Reached TP2! Good trade Tom
UnknownUnicorn180388
⋅
@DfatTrader, great to hear :-)
More