Hey guys, today I found a possible Cypher in the USDCAD.
In my opinion, after the price will break the B point resistance would smoothly go into the completion of the Cypher D point at 1.1310 perfectly aligned with a bearish trendline, giving me the clue of possible bearish momentum around that area. a nice set-up on this trade could be to short at the completion of the D point with a stop loss above structure at 1.3182 and taking profits respectively at 1.304 and 1.295.
Hope you'll find this helpful ;)
Cheers Guys!
In my opinion, after the price will break the B point resistance would smoothly go into the completion of the Cypher D point at 1.1310 perfectly aligned with a bearish trendline, giving me the clue of possible bearish momentum around that area. a nice set-up on this trade could be to short at the completion of the D point with a stop loss above structure at 1.3182 and taking profits respectively at 1.304 and 1.295.
Hope you'll find this helpful ;)
Cheers Guys!