Oh this hurts when you open your charts and see the completion of a perfect Cypher pattern and wonder why you never noticed it forming...
How perfect is the D completion turnaround @ 1.1140. There would have been no pain with this trade...
This just looked like a good setup.
We have a break to the down side followed by the retracement back up into previous consolidation.
Looking back the market has already shown a strong reaction at these levels so I'm expecting price to push back down and retest the lows at 1.52650.
Anyway with a R/R Ratio of 1.74, I only have to be right 50% of the time and I will...
This is looking like a perfect pattern, especially the C leg completion right on the 1.272 X to A Extension.
We also have some solid previous structure at the D completion so were looking for a bounce to the upside at these levels.....
This is the first idea i have posted so lets hope this trade is a profitable one.
Stops in Pink, Profit target #1 in Green, Profit...
