2018Oct23 EURUSD H1 Bearish Cypher

EURUSD has been on a downtrend and completed a bearish cypher. As I expect the downtrend to continue and upon confirmation of the bearish bias, I will go short. The take profit target is set at the 61.8 Fibonacci retracement level of the CD leg while the stop loss has the same number of pips as TP1. Trade details are as follows:

Trade Setup: Bearish Cypher
Price Entry 1.15469
SL 1.15903 | SL pips 43.4
TP2 1.14766 | TP2 pips 70.3
RRR2 1.62