CAD.JPY - BEARISH CYPHER SETUP - 87.122
Güncellendi
On the CAD.JPY Daily 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 87.122 & 87.749
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 85.300
Stop loss would be placed above X leg structure resistance .
Target 1 - 86.254
Target 2 - 85.694
The price reversal zone on this pair is between 87.122 & 87.749
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 85.300
Stop loss would be placed above X leg structure resistance .
Target 1 - 86.254
Target 2 - 85.694
Not
Price is now approaching B leg resistance, if we see a break and close above this we should expect a D leg completion in the coming hours.Not
Not
We have now seen a breakout of the above consolidation, a D leg completion is expected in the coming hours.Not
Although this setup has broke above the X leg, the position is still valid.
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