Alexander_Nikitin
Short

usdcad downtrend continuation with cypher pattern

FX:USDCAD   U.S. Dollar/Canadian Dollar
Hey, traders. The week start with this cypher on usdcad             . I am looking for its completion at 78,6 to enter short in anticipation of the downtrend to continue. I dropped this position analyzer on the chart so you could see where I am going to place my stops and targets. Also pay attention to the risk to reward ratio. No splitting the position, no breakeven, no trade menagement at all. Only one enter and one exit. If yes, then yes. If no, then no. Check my attached ideas to find similar setups. Good luck
Press like, follow adn feel free to leave some comments. Have a nice day.
Trade closed: stop reached: I am out of this trade. No need to have larger loss.))
Been watching this one myself; agree with the extended target but the 1.13Fib SL is apart of my plan; good luck mate!
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Alexander_Nikitin izogawa_trading
Did you test that stop?
Reply
izogawa_trading Alexander_Nikitin
Yeah thats the stop I used
Reply
Alexander_Nikitin izogawa_trading
How often price goes to 1,13XA after it touches X?
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