Here we have an entry supported by the individual markets as well as the pairing in the Forex market.
If you recall,( linked below) I have moment down on the Dow (USD) and moment up on the ASX200 (AUD) . these combined moments plus this cypher pattern suggest that this trade will be more than successful, making us 291 pips for take profit one and 700 pips for take profit two, the only downside is the time frame, I usually stay under an hour time frames, so bumping it up to a day can be a bit risky for me. but everything seems to be here on this trade.
I have my entry placed at point B
I have my first limit at the .168 extension of the BC leg, where i will sell off half of my owned units and move my stop up to break even.
I have my second limit placed at the 1.618 extension of the BC leg, this may take a few months , but 700 pips may be worth it.
My stop is placed at the structure just below X because i don't want the market to re test X then rally all the way up to our take profit.
I hope youfind this information useful, if you disagree, please feel free to comment your opinions , otherwise, like and follow me for updates and more trades!
As always Good trading Everyone!
If you recall,( linked below) I have moment down on the Dow (USD) and moment up on the ASX200 (AUD) . these combined moments plus this cypher pattern suggest that this trade will be more than successful, making us 291 pips for take profit one and 700 pips for take profit two, the only downside is the time frame, I usually stay under an hour time frames, so bumping it up to a day can be a bit risky for me. but everything seems to be here on this trade.
I have my entry placed at point B
I have my first limit at the .168 extension of the BC leg, where i will sell off half of my owned units and move my stop up to break even.
I have my second limit placed at the 1.618 extension of the BC leg, this may take a few months , but 700 pips may be worth it.
My stop is placed at the structure just below X because i don't want the market to re test X then rally all the way up to our take profit.
I hope youfind this information useful, if you disagree, please feel free to comment your opinions , otherwise, like and follow me for updates and more trades!
As always Good trading Everyone!
