An advance pattern in the midst of consolidation

20 de dez. de 2016

On the Eur/Cad we have a pattern that might not stand out to everyone because it is a little sloppy. It is one I that stuck out to me however. It is a cypher pattern entry at the 78.6% retracement of the X-A leg I have drawn on the chart with targets at the Fibonacci levels, 38.2% and the 61.8%. If you're a cypher pattern trader and this one stood out to you then get your orders on because it has already almost made it to the entry point.

20 de dez. de 2016

Nota

There was a typo for the stop loss, that should say 1.3895 in order to get under that psychological whole number.

20 de dez. de 2016

Trade fechado: stop atingido

Well it was another nice trade that rallied almost up to targets and turned around right before it got to them. It rolled over and hit stops, let keep on looking and move on to the next one.