Hi guys,
this is a Cypher pattern that's almost completing on EURJPY 1H chart. The white line represents a previous structure level very important and in the daily chart the RSI is in oversold condition. Price has also created a nice pinbar on the daily chart as well.
These are the reasons why i'm getting involved with this.
I'm actually taking this one a little lower in order to get a better risk to reward ratio.
Stops below X, targets as usual for harmonic patterns.
If you want to share your thoughts or simply ask questions, feel free to comment below.
Otherwise, see you in the next chart!
this is a Cypher pattern that's almost completing on EURJPY 1H chart. The white line represents a previous structure level very important and in the daily chart the RSI is in oversold condition. Price has also created a nice pinbar on the daily chart as well.
These are the reasons why i'm getting involved with this.
I'm actually taking this one a little lower in order to get a better risk to reward ratio.
Stops below X, targets as usual for harmonic patterns.
If you want to share your thoughts or simply ask questions, feel free to comment below.
Otherwise, see you in the next chart!
Trade closed: target reached:
First target hit! Stop moved to breakeven.
Trade closed: target reached:
Second target hit! Wonderful!