There could b a couple of different shorting opportunities setting up on the EuroDollar this week. The first one I'm interested in would be this bearish Cypher pattern, using standard pattern entries & targets.
Within the C-D completion leg of the Cypher pattern, there is also the potential for an equal measured move, which would then complete up towards the 161.8% extension of the initial A-B leg. This would also be up retesting previous structure highs which are at a significant level on this pair.
A couple of choices of how you might choose to involve yourself depending on how you trade. Let's see how it plays out!
Trade closed: target reached
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Fed meeting last night triggered and closed this trade for two targets within the hour! Frontrunning for the win!