TomHall
Long

EUR.USD - BULLISH CYPHER SETUP - 1.0580

FX:EURUSD   Euro / U.S. Dollar
3698 32 128
On the EUR.USD 1hr chart we have a potential long opportunity at the D leg completion of bullish Cypher setup.

The price reversal zone on this pair is between 1.0580 & 1.0526
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 1.0788
Stop loss would be placed below X leg structure support .

Target 1 - 1.0658
Target 2 - 1.0707
Comment: Monthly outlook.

Comment: I am looking to take this pair short into next week based on a my alternative entry strategy.
Awaiting a break below 1.0700 to confirm.
Comment: Price retesting the D leg completion.

Comment:
Comment: Please note, this setup is still valid until price exceeds the C leg.
Comment:
Comment: Daily Pattern outlook as price breaks 1.0800.

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Great setup Tom. It can work really good as there is also a BAT pattern on the 15 min (right shoulder). Thank you.
+1 Reply
TomHall KlejdiCuni
@KlejdiCuni, My pleasure, i hope it all goes well for you :-)
Reply
KlejdiCuni TomHall
@TomHall, Thank you! I wish the same to you:)
Reply
Hi just wondering is the Cypher pattern still valid if the D leg does not complete before the end of 20-03-2017 ? btw really great setup, still a beginner but i can relate to everthing you wrote!
+1 Reply
TomHall yahyadoudouh
@yahyadoudouh, Hi,
Yes it is still valid unless it breaks the C leg at 1.0784
I hope that helps.
Reply
@TomHall, all right thanks, even if it stays in consolidation for a certain amount of time?
+1 Reply
TomHall yahyadoudouh
@yahyadoudouh, That's correct, please note that is for me personally based on backtesting.
Reply
@TomHall, Thanks for the reply helps a lot.
+1 Reply
TomHall yahyadoudouh
@yahyadoudouh, My pleasure, have a good weekend.
Reply
It must break 1,06 level to entry valid ?
+1 Reply
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