USDCHF Potential Weekly Short Position - Cypher

May 2, 2018

Potential bearish cypher almost completed. If you enters soon as price completes the last leg, bear in mind that based on my ATR stop loss above x, this trade will not be a 1:1.

Personally, I will NOT enter as soon as price hits the last leg of the cypher. There's a reason they say you should put you Stop Loss above/below X and thats because price can go that high/low against you.

I will wait for price action to complete the last leg then look for a reversal as entry, anywhere up to the Stop Loss level, as reassurance and also to obtain a better R:R.