On the USD/CAD 1 hour chart we have a potential short opportunity at the D leg completion of a Cypher Pattern.
The price reversal zone on this pair is between 1.3355 & 1.3370 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 Pattern placed at the .382% and .618% retracement of the C to D move. Stop loss would be placed above X leg structure resistance.
The C leg exceeds the 1.414% extension for me so it is now invalid.
feiwuba
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NOW ,IT HAVE NOT EXCEED THE 1.414
UnknownUnicorn180388
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This would all depend on where you have taken the Fib extension from, on my chart it exceeds the 1.414%
Just because it doesn't fit my rules doesn't mean you should trade it if it meets your rules.
feiwuba
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AH ,YES , YOU ARE RIGHT , I AGREE WITH YOU ,JUST TALK ABOUT IT WITH YOU ,AND LEARN FROM YOU
feiwuba
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OR IT WILL GO TO THE 1.618 , THEN AB=CD ,HOW DO YOU THINK IT ,
UnknownUnicorn180388
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It is certainly possible.
SyedMunib
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sir your target?
UnknownUnicorn180388
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Target 1 is placed at the 0.382% & Target 2 is at the 0.618% retracement of the C to D move
HOW DO YOU THINK IT ?