USD.CAD - BULLISH CYPHER SETUP - 1.3029
On the USD.CAD 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 1.3029 & 1.2980
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 1.3180
Stop loss would be placed below X leg structure support .
Target 1 - 1.3099
Target 2 - 1.3141
The price reversal zone on this pair is between 1.3029 & 1.2980
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 1.3180
Stop loss would be placed below X leg structure support .
Target 1 - 1.3099
Target 2 - 1.3141
Comment:
D leg completion at 1.3029
Comment:
Target 1 attained if you entered at 1.3029
Comment:
We now need to see a break of 1.3100 to confirm direction.
Comment:
Consolidation period underway, expecting a breakout to the upside today/tomorrow.