Bearish Cypher on the EUR/USD 30 min timeframe.
Updated
looking for this potential bearish Cypher on the EUR/USD 30 min timeframe to complete.
Cypher completion will be at the 78.6% retracement from the X to C leg. this will be the short entry zone. price looking to sell around 1.0875. Stoploss should be placed at least 20 pips above X , Probably around 1.0925.
Exit depends on your own strategy, i choose to take 2 profit targets in this analysis.
First take profit target at the 38,2 % retracement from C o D leg.
Second take profit target at the 61,8 % retracement from the C to D leg
Always looking for feedback on my analysis, so be sure to comment !
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Cypher completion will be at the 78.6% retracement from the X to C leg. this will be the short entry zone. price looking to sell around 1.0875. Stoploss should be placed at least 20 pips above X , Probably around 1.0925.
Exit depends on your own strategy, i choose to take 2 profit targets in this analysis.
First take profit target at the 38,2 % retracement from C o D leg.
Second take profit target at the 61,8 % retracement from the C to D leg
Always looking for feedback on my analysis, so be sure to comment !
Follow me on twitter : PalmTreeTrading
Follow me on Tradingview : tradingview.com/u/PalmTreeTrading/
Followme on Instagram : instagram.com/palmtreetrading/
Trade closed: target reached
After trade opening, price came down fast for a target 2 winner !
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