USDSGD W Bullish BAT PATTERN @ 1.2800
Updated
Hi Guys,
Cypher pattern which has good support plus a big psychological level @ 1.2800. Good area to look for long trades. Lots of pips to risk on this trade so micro lots will be used.
This is a bullish CYPHER pattern @ 1.2800 and stop loss will be placed below 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: 600 pips x 2 = 1200 pips
Reward #1: 630 pips. R:R = 1:1.05
Reward #2: 1000 pips. R:R = 1:1.65
Plan your trade... Trade your plan.
Cypher pattern which has good support plus a big psychological level @ 1.2800. Good area to look for long trades. Lots of pips to risk on this trade so micro lots will be used.
This is a bullish CYPHER pattern @ 1.2800 and stop loss will be placed below 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: 600 pips x 2 = 1200 pips
Reward #1: 630 pips. R:R = 1:1.05
Reward #2: 1000 pips. R:R = 1:1.65
Plan your trade... Trade your plan.
Note
Sorry guys, the heading is supposed to be Bullish CYPHER PATTERN NOT BAT PATTERN***
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.