Bearish Cypher in a Bearish Trend Short

U.S. Dollar/Canadian DollarFXCM

Description

⋅ Mar 8, 2016 4:53 PM

Looks like we are going to have a nice opportunity to hop on a bearish cypher pattern in an otherwise bearish market. The USDCAD0.78% has been trending lower for a little while now so this will present a nice chance to jump on the downward trend.

Entry 1.3424
Stop above swing high 1.3485
1st Target 1.3365
2nd Target 1.3326

* If 1st target is reach stops must be moved to breakeven

Trade active

⋅ Mar 9, 2016 2:36 PM

Orders to get short have been filled. Market looks like it is trying to decide where it wants to go

Comment

⋅ Mar 9, 2016 3:12 PM

Target 1 Reached - Stops now move to break even we wait to see if target 2 will be hit.

Trade closed: target reached

⋅ Mar 9, 2016 3:38 PM

2nd target hit for a nice profit.

Trade closed: target reached

⋅ Mar 16, 2016 10:47 PM

Both targets reached