POTENTIAL LONG SETUP : BULLISH CYPHER + TRNED LINE MERGE
Updated
Hi,
We have another potential Long opportunity at the D leg completion of bullish Cypher setup of TCS Daily chart.
The price reversal expected near to 2243 which is D leg completion of the pattern.
There are chances of trend line & D leg of the pattern to merge,we may witness strong price action to upside if it happens
The PRZ zone is only a guideline of where we will be paying attention for trade setups and opportunity's.
Stop loss would be placed below X leg structure support .
Target 1 - 2377
Target 2 - 2462
(When looking to take targets on the bullish Cypher Pattern the first step is to use your Fibonacci retracement tool.
With your Fibonacci retracement tool draw from the C to D leg, you are looking for target 1 at the 38.20% and target 2 at the 61.80%.
To protect the profits you have accumulated at target 1 it is advised you move your stop loss to breakeven once the 38.20% target 1 has been attained, thus giving you a risk free trade to target 2. )
Note : This setup will be valid only if price complete the D leg.
Trade with Care
Gulz.
We have another potential Long opportunity at the D leg completion of bullish Cypher setup of TCS Daily chart.
The price reversal expected near to 2243 which is D leg completion of the pattern.
There are chances of trend line & D leg of the pattern to merge,we may witness strong price action to upside if it happens
The PRZ zone is only a guideline of where we will be paying attention for trade setups and opportunity's.
Stop loss would be placed below X leg structure support .
Target 1 - 2377
Target 2 - 2462
(When looking to take targets on the bullish Cypher Pattern the first step is to use your Fibonacci retracement tool.
With your Fibonacci retracement tool draw from the C to D leg, you are looking for target 1 at the 38.20% and target 2 at the 61.80%.
To protect the profits you have accumulated at target 1 it is advised you move your stop loss to breakeven once the 38.20% target 1 has been attained, thus giving you a risk free trade to target 2. )
Note : This setup will be valid only if price complete the D leg.
Trade with Care
Gulz.
Trade active
Approaching PRZTrade closed: target reached
both targets achieved.
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