EUR.GBP - BEARISH CYPHER SETUP - 0.8738
On the EUR.GBP 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 0.8738 & 0.8763
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 0.8658
Stop loss would be placed above X leg structure resistance .
Target 1 - 0.8704
Target 2 - 0.8681
The price reversal zone on this pair is between 0.8738 & 0.8763
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 0.8658
Stop loss would be placed above X leg structure resistance .
Target 1 - 0.8704
Target 2 - 0.8681
Comment:
A break and close above .8700 should alert us of potential D leg completion.
Comment:
If you executed your position at .8738 your target 1 should be attained.