CADJPY 60 Bearish CYPHER PATTERN @ 84.75
Updated
Hi Guys,
This is a bearish CYPHER pattern @ 74.10 and stop loss will be placed above the X leg which is used as good resistance in this case. Targets will be at the 38.2% and 61.8% fibonacci levels. IF/WHEN first targets are met, half of the position would be closed for profit and stop loss for the second half of the position will be moved to break-even, ensuring a risk-free trade.
Thank you for your support.
Trade Numbers:
Risk: 65 pips x 2 = 130 pips
Reward #1: 67 pips. R:R = 1:1
Reward #2: 108 pips. R:R = 1:1.65
Plan your trade... Trade your plan.
This is a bearish CYPHER pattern @ 74.10 and stop loss will be placed above the X leg which is used as good resistance in this case. Targets will be at the 38.2% and 61.8% fibonacci levels. IF/WHEN first targets are met, half of the position would be closed for profit and stop loss for the second half of the position will be moved to break-even, ensuring a risk-free trade.
Thank you for your support.
Trade Numbers:
Risk: 65 pips x 2 = 130 pips
Reward #1: 67 pips. R:R = 1:1
Reward #2: 108 pips. R:R = 1:1.65
Plan your trade... Trade your plan.
Order cancelled
Pattern Invalidated. Lose nothing, gain nothing.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.