Nico.Muselle
Long

USDCAD - Bullish Gartley near to completion

FX:USDCAD   U.S. Dollar/Canadian Dollar
510 7 15
With the huge drop of this pair thanks to the relatively good numbers announced for USD and the unchanged interest rate for CAD, we are sooner near to completion of this Cypher pattern than expected. It's not quite in the reversal zone yet but a little further down during tomorrow's early session is certainly possible.
If it drops under 1.239 it'll be a pretty hard support breach...strongest support level is at around 1.2453 and it was already breached.
Reply
GospodE
2 years ago
GOOD work sir!
Reply
Nico.Muselle MOD GospodE
2 years ago
Thank you for your support ! :)
Reply
FeelsFX
2 years ago
So the price did not get into the reversal zone. Is the pattern invalid regardless the premature reversal ?
Reply
Nico.Muselle MOD FeelsFX
2 years ago
I'm afraid that price action indeed decided to reverse a little before the PRZ so the pattern did not complete. In theory the pattern is not invalid as no price level has been broken, but chances that it will still complete and reversal will happen in the predicted zone have become very slim now. As far as I am concerned this pattern can be removed from the radar.
Reply
FeelsFX Nico.Muselle
2 years ago
so u didnt enter long on it ?
Reply
Nico.Muselle MOD FeelsFX
2 years ago
No I did not, so nothing won, nothing lost on this.
However, I entered a short trade. based on the structure that was hovering around 1.2510 for about 6 hours on the CD leg which gave me a good profit using previous structure as Target 1 and 1.2415 as Target 2.
+1 Reply
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out