On the USD.CAD 1hr chart we have a potential long opportunity's at the D leg completion of bullish Cypher setup.
The price reversal zone on this pair is between 1.3029 & 1.2980 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 back into 1.3180 Stop loss would be placed below X leg structure support .
Target 1 - 1.3099 Target 2 - 1.3141
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D leg completion at 1.3029
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Target 1 attained if you entered at 1.3029
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We now need to see a break of 1.3100 to confirm direction.
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Consolidation period underway, expecting a breakout to the upside today/tomorrow.
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