GBP.CHF - Bearish Cypher Setup @ Market
Updated
On the GBP.CHF 1hr chart we have a potential short opportunity at the D leg completion of bearish Cypher setup.
The price reversal zone on this pair is between 1.2375 & 1.2405
The PRZ zone is only a guideline of where we will be paying attention for trade setups and opportunity's.
Potential targets for the Cypher setup placed at the .382% and .618% retracement of the C to D move.
There is also opportunity to look for extended targets at around 1.2280
Stop loss would be placed above X leg structure resistance .
Target 1 - 1.2335
Target 2 - 1.2310
The price reversal zone on this pair is between 1.2375 & 1.2405
The PRZ zone is only a guideline of where we will be paying attention for trade setups and opportunity's.
Potential targets for the Cypher setup placed at the .382% and .618% retracement of the C to D move.
There is also opportunity to look for extended targets at around 1.2280
Stop loss would be placed above X leg structure resistance .
Target 1 - 1.2335
Target 2 - 1.2310
Note
If you got triggered into the market your target 1 & 2 should be attained.Note
I am contemplating distributing my personal Cypher setup rules in the coming weeks.Note
If you got triggered into the market your extended target at 1.2280 should now be attained.
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