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UnknownUnicorn180388
Dec 7, 2016 10:22 AM

EUR.USD - BEARISH CYPHER SETUP - 1.0766 Short

FX:EURUSD15
Euro Fx/U.S. DollarFXCM

Description

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On the EUR.USD 15min 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 1.0766 & 1.0784
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 1.0708
Stop loss would be placed above X leg structure resistance.

Target 1 - 1.0740
Target 2 - 1.0724

Comment

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EUR.USD D leg completed at 1.0766

Comment

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Comment

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Please Note:
Position is still valid for traders who missed the previous entry.
ukforexsignalsSELLshortBearish PatternsHarmonic PatternsEURUSDeurusdshort
Comments
Telson
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The .382 target was just missed but I am guessing the price will retest the level. Thanks again for the idea Tom.
UnknownUnicorn180388
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@Telson, There is no guarantee, once a position is executed is should be left until either the target or sl is hit.
My pleasure :-)
jadams0318
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thanks I made a good 130 pips on the ride up through correlation an patience
UnknownUnicorn180388
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@jadams0318, Great to hear :-) Have a good rest of the week.
10X
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Spot on
UnknownUnicorn180388
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@10X, Thank you!
jadams0318
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I think I might have to sign up for the signal service. we will see today
UnknownUnicorn180388
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@jadams0318, No problem at all, if you have any questions prior to doing so don't hesitate to contact me.
PasinduRashmika
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Another great analysis... Thank you Tom..
UnknownUnicorn180388
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@PasinduRashmika, Thank you :-)
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