morshedul.sazid
Short

USDCAD CYPHER SETUP ( Structure + Ema)

FX:USDCAD   U.S. Dollar/Canadian Dollar
1443 38 27
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.
Trade active
Trade closed: target reached: 1st Targets off 52pips Banked!
Trade closed: target reached: 84 pips Banked! Great Trade! Have a nice day all of you!
@jhakas what do you think?
Reply
morshedul.sazid King_arman91
Targets done!
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good idea ,think same
+1 Reply
Thank you!
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Hi, What's you're short entry price?
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1.40677
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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
Agreed :) its still trading lower lows, hopefully we might see another bearish leg.
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very nice setup..!!
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Thank you mate :)
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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.
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DerekUweri71 DerekUweri71
possible trend continuation pattern.
+1 Reply
morshedul.sazid DerekUweri71
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 :)
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morshedul.sazid DerekUweri71
Thanks for sharing!
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DerekUweri71 morshedul.sazid
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.
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morshedul.sazid DerekUweri71
Cheers!~
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Great :)
+1 Reply
morshedul.sazid abrar.ahmed1408
Thanks man!
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What would be TP1 for you? (1.3982) Thanks for sharing!
+1 Reply
morshedul.sazid BogdanBratu
1.40147
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thank you!! alaways awesome analyzes :D
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morshedul.sazid ms1234863333
Thank you!
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Nc sir.. Great work.
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Thank you!
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GREAT!
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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!
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Thanks! I only focus on Hourly tf :)
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ubay morshedul.sazid
you are awesome man.. all the best for you.. I love you :D

even thoug I do not use your chart :)
+1 Reply
Thank you for your kind words! appreciate it
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DerekUweri71 morshedul.sazid
Hi Morshedul, beautiful trade !!
+1 Reply
morshedul.sazid DerekUweri71
Thanks mate!
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Where did you place your stop here?
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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
My apologies, just noticed. Am a newbie.
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No problem! Cheers.
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King_arman91 morshedul.sazid
time for correction!! great trade bud!
+1 Reply
morshedul.sazid King_arman91
Thank you!
Reply
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