Oztrade
Long

EURUSD - 240M LONG - CYPHER - ADVANCED PATTERN - STRUCTURE

FX:EURUSD   Euro/U.S. Dollar
Hi All, I wanted to share this pattern here on the 4H EURUSD            

Setting up we have a potential CYPHER - obviously some ways to go as we are not yet below B LEG

However in saying this we all know how quick we can see movement and if not in front then we miss many opportunities.

As Always - Entry Green Line - Stops Red Line

Targets will be just below so we get targets hit - 38.2% after D Completion so make sure if you trade these patterns to always bring targets down with the D Leg Completion. Target 2 is 61.8%

Good signs of Previous Support if we get there - If we come down to retest B Leg and continue upwards there will be a Head and Shoulders Pattern for those who trade them.

I will watch this pair and see how price goes in the next few days.

Good Luck and Happy Trading
I am adding a long here, I saw my D chart and we are just above and close to 55MA and 129 (6 months) SL 1.1000.
What you think about it?
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Oztrade Miltonfx
Hi Milton - Not sure - I couldnt take the Cypher because after posting the pattern - it did not meet my rules, Im still hoping to find another reason to get long - I have nothing jumping out as yet. It is at a nice level to enter based on the Cypher Pattern - providing a better Risk profile and anticipating we hit Targets 1 and 2 I will need to take another look.
+1 Reply
Oztrade Miltonfx
Sorry I dont use MA
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i am still long from 1214 and my target is 1614 and my SL 1147
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