shprice

LONG on EURUSD with Double Bottom on 1hr with CYPHER

Long
FX:EURUSD   Euro / U.S. Dollar

As mentioned previously, we have now completed the bullish cypher on EURUSD and as such have two targets, the 38.2 and 61.8.
If missed initial entry or after a more conservative entry, we have a Double Bottom forming which may lead to a LONG opportunity with valid P/L at the 61.8 retracement.

Issues may include, breaking structure and lack of RSI divergence for Double Bottom , and also psychological number.

May be possible to wait for a 2618 for higher or once structure had been broken at 1.09 even.

Interested to see how this pans out for larger pattern trade potential.

Thoughts?
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