Wanted to share with you guys a trade I got filled last night and waiting to see what will the outcome be.
This pair is at an interesting level having broken through a first daily resistance level (the second blue box from the top), on my trading timeframe but also on the daily; and almost tested another daily resistance level but not quite (the first blue box from the top).
Price is in a bull trend on my trading timeframe and was looking for a trend continuation opportunity in the orange box and got presented with the cypher pattern I used as an entry. Because of its combination of fibs and "structure-breaking" moves, it's not often I can use a Cypher as reason for entry for a trend continuation trend.
Also because of where price is (almost retested this other daily resistance level) I will only be taking 1 target instead, at the retest of the last NSH.
Bank of England is to release a potential rate raise today so be careful on all GBP pairs today !
Have a great day in the markets folks ! (and don't forget to follow my journey on social media, links in bio)
This pair is at an interesting level having broken through a first daily resistance level (the second blue box from the top), on my trading timeframe but also on the daily; and almost tested another daily resistance level but not quite (the first blue box from the top).
Price is in a bull trend on my trading timeframe and was looking for a trend continuation opportunity in the orange box and got presented with the cypher pattern I used as an entry. Because of its combination of fibs and "structure-breaking" moves, it's not often I can use a Cypher as reason for entry for a trend continuation trend.
Also because of where price is (almost retested this other daily resistance level) I will only be taking 1 target instead, at the retest of the last NSH.
Bank of England is to release a potential rate raise today so be careful on all GBP pairs today !
Have a great day in the markets folks ! (and don't forget to follow my journey on social media, links in bio)
Trade closed: target reached:
Target hit after news release : +119 pips