Kylan_Laymance
Long

Cypher Pattern, USD/MXN, 30min

FX:USDMXN   U.S. Dollar/Mexican Peso
Here I see a Cypher Pattern on the USD/MXN 30 min chart. I believe that the market will rally to the 1.618 extension of the BC             leg. This will allow us to enter at the B point giving us exactly a 2:1 risk reward ratio. There is support from the linear regression channel with a standard deviation of 2 and -2, which suggests that the market will rally of the lower deviation and rally to the higher deviation.

I have placed my entry at point B my stop at point A and my limit at the 1.618 extension of the BC             leg. it is likely that this trade will take about 20 hours, but it may very well complete before then.

Thanks for checking this out, please feel fee to comment any opinions or suggestions, also like if you agree and follow if you are interested in seeing more.

Thanks again, Good Trading.
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