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MRamos
Feb 8, 2018 1:33 PM

CYPHER Short 4H Short

British Pound/Swiss FrancFXCM

Description

We have a nice Cypher setting up here. Criteria Has been met on the XA leg pulling back to .382 at B level. The XA leg Fib Ext to a 1.27 has been met. We look for entry at the .786 Fib of the XC length. If we look back we can see that this is an area of Support/Resistance marked with RED arrows. Putting an entry in the middle of this area. Place targets and stops as per your rules. Also look for RSI divergence if price reaches this area in Green. This may happen next week or even longer. Good luck.
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