USDCAD CYPHER SETUP ( Structure + Ema) Short

U.S. Dollar/Canadian DollarFXCM

Description

⋅ Feb 2, 2016 8:10 AM

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

⋅ Feb 2, 2016 3:02 PM

Trade closed: target reached

⋅ Feb 2, 2016 6:25 PM

1st Targets off 52pips Banked!

Trade closed: target reached

⋅ Feb 3, 2016 11:20 AM

84 pips Banked! Great Trade! Have a nice day all of you!

Cypher

Comments

DerekUweri71

⋅ Feb 2, 2016 10:04 AM

Trader-Mick

⋅ Feb 2, 2016 11:04 AM

Thanks for sharing!

DerekUweri71

⋅ Feb 2, 2016 12:20 PM

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.

Trader-Mick

⋅ Feb 2, 2016 12:34 PM

Cheers!~

hijack310

⋅ Feb 3, 2016 1:30 PM

Where did you place your stop here?

Trader-Mick

⋅ Feb 3, 2016 1:32 PM

Please take your time to read the chart! Get used to the tools in TV, Its clearly shown there. 1.41360

hijack310

⋅ Feb 3, 2016 1:32 PM

My apologies, just noticed. Am a newbie.

Trader-Mick

⋅ Feb 3, 2016 1:33 PM

No problem! Cheers.

King_arman91

⋅ Feb 3, 2016 9:28 PM

time for correction!! great trade bud!

Trader-Mick

⋅ Feb 4, 2016 7:36 AM

Thank you!