morshedul.sazid
Short

USDCAD CYPHER SETUP ( Structure + Ema)

FX:USDCAD   U.S. Dollar/Canadian Dollar
1439 38 27
a year ago
Hey traders! we have a potential bearish Cypher pattern here in USDCAD             , we have bearish Hidden divergence in RSI and also price action reaching the structure resistance zone where the pattern completes. Expecting the price to reverse to 1.39826.
a year ago
Trade active
a year ago
Trade closed: target reached: 1st Targets off 52pips Banked!
a year ago
Trade closed: target reached: 84 pips Banked! Great Trade! Have a nice day all of you!
King_arman91
a year ago
@jhakas what do you think?
Reply
morshedul.sazid King_arman91
a year ago
Targets done!
Reply
renwei
a year ago
good idea ,think same
+1 Reply
morshedul.sazid renwei
a year ago
Thank you!
Reply
Hanu727
a year ago
Hi, What's you're short entry price?
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morshedul.sazid Hanu727
a year ago
1.40677
+1 Reply
I would generally agree with this analysis. Yesterdays high of 1.4061 is unlikely to be reached and a descending trend line comes in at 1.4048 which may trigger a reversal. My target for any reversal would be a new lower low below 1.3901. If price does indeed break through there then we could see a much deeper retracement to key support at 1.3465 (61.8 monthly Fibonacci and previous resistance). If yesterdays high is taken out there's significant resistance coming in at 1.4082 (Weekly Pivot) which is likely to be heavily defended. This being NFP week though, all analysis will be out of the window if we get a significant deviation in Friday's expected 192k print.
+1 Reply
morshedul.sazid theforexportal
a year ago
Agreed :) its still trading lower lows, hopefully we might see another bearish leg.
+1 Reply
jhakas
a year ago
very nice setup..!!
+1 Reply
morshedul.sazid jhakas
a year ago
Thank you mate :)
+1 Reply
DerekUweri71
a year ago
Hi Morshedul, nice 1H set up.
Have a look at the daily chart attached & tell me what you think.
It is possible price could be heading north.
Reply
DerekUweri71 DerekUweri71
a year ago
possible trend continuation pattern.
+1 Reply
morshedul.sazid DerekUweri71
a year ago
Well, I am just trading my trading plan :). I do not switch to higher timeframe if I take trades on hourly because it confuses me since I did not do backtesting like that :). But if that bounce is valid then it could head to north :)
Reply
DerekUweri71
a year ago
snapshot
+2 Reply
morshedul.sazid DerekUweri71
a year ago
Thanks for sharing!
Reply
DerekUweri71 morshedul.sazid
a year ago
I completely share your view. Daily time frame can sometimes leave clues but you are right, it can also be confusing. Good trade so far.
+1 Reply
morshedul.sazid DerekUweri71
a year ago
Cheers!~
Reply
Great :)
+1 Reply
morshedul.sazid abrar.ahmed1408
a year ago
Thanks man!
Reply
BogdanBratu
a year ago
What would be TP1 for you? (1.3982) Thanks for sharing!
+1 Reply
morshedul.sazid BogdanBratu
a year ago
1.40147
+1 Reply
ms1234863333
a year ago
thank you!! alaways awesome analyzes :D
+1 Reply
morshedul.sazid ms1234863333
a year ago
Thank you!
+1 Reply
vikiaimy
a year ago
Nc sir.. Great work.
+1 Reply
morshedul.sazid vikiaimy
a year ago
Thank you!
Reply
ManuFx
a year ago
GREAT!
+1 Reply
ManuFx
a year ago
Mr keep doing good like this.. what you think about 4H or Daily time frame usdcad? is going to bottom on 1.3770 or first top again 1.43 - 1,46? thank you!
+1 Reply
morshedul.sazid ManuFx
a year ago
Thanks! I only focus on Hourly tf :)
Reply
ubay morshedul.sazid
a year ago
you are awesome man.. all the best for you.. I love you :D

even thoug I do not use your chart :)
+1 Reply
morshedul.sazid ubay
a year ago
Thank you for your kind words! appreciate it
Reply
DerekUweri71 morshedul.sazid
a year ago
Hi Morshedul, beautiful trade !!
+1 Reply
morshedul.sazid DerekUweri71
a year ago
Thanks mate!
Reply
hijack310
a year ago
Where did you place your stop here?
+1 Reply
morshedul.sazid hijack310
a year ago
Please take your time to read the chart! Get used to the tools in TV, Its clearly shown there. 1.41360
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hijack310 morshedul.sazid
a year ago
My apologies, just noticed. Am a newbie.
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morshedul.sazid hijack310
a year ago
No problem! Cheers.
Reply
King_arman91 morshedul.sazid
a year ago
time for correction!! great trade bud!
+1 Reply
morshedul.sazid King_arman91
a year ago
Thank you!
Reply
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