TomHall
Long

EUR.USD - BULLISH CYPHER SETUP - 1.0553

FX:EURUSD   Euro/U.S. Dollar
On the EUR.USD 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 1.0553 & 1.0518
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 1.0659 resistance level
Stop loss would be placed below X leg structure support .

Target 1 - 1.0603
Target 2 - 1.0635
Comment: A pullback to trendline at 1.0619 is expected
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Amazing, thank you tom
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Hi Tom
take a look at daily EU is getting ready to bounce
EURUSD GETTING READY TO REVERSE
+1 Reply
@Apple22, Nice setup, for me personally it wouldn't fit my rules to trade but certainly something to watch.
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Hi Tom,

Is that setup still valid ? PRZ Zone Didn't cross...
Reply
TomHall TOP PasinduRashmika
@PasinduRashmika, Hi,
It is still valid until the market exceeds the C leg.
Reply
@TomHall, Thanks for your reply sir...
+1 Reply
TomHall TOP PasinduRashmika
@PasinduRashmika, My pleasure, have a great day.
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Hi TomHall, isn't BC leg rallied to high in this case?
+1 Reply
@layyarx, It all depends on the rules you have an the software you are using, there is some discrepancy between TV charts and MT4
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Hi , Tom! Great setup!

May i ask is it correct in GBPJPY it's 1.272 and >1.114 retracement, but with Fib retracement tool, not with Fib extension tool!? Thank you!
snapshot
+1 Reply
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