Hello Fellows!
I hope you are all swell!
Although a larger opportunity exists around the 2048 area, this one might be more of an 'in & out' kind of set-up.
What we have here is a 'cypher' pattern near completion. It can also be viewed on the 4H tf but the 1H tf makes it clearer.
The idea is to go short at the 78.6 % XC retracement, marking D point completion at approximately 2037.80, and gather as much as possible since the price has potential to go higher later on during the week, if not right away.
The said level also coincides with the trendline coming all the way from 17th January, which previously served as support, but now might act as minor resistance.
SL need not be higher up, but just above the X point. Perhaps a 1:1 trade!
Take care, trade safe and stay dandy!
Note: The information created and published here is not prohibited, doesn't constitute investment advice, and isn't created solely for
I hope you are all swell!
Although a larger opportunity exists around the 2048 area, this one might be more of an 'in & out' kind of set-up.
What we have here is a 'cypher' pattern near completion. It can also be viewed on the 4H tf but the 1H tf makes it clearer.
The idea is to go short at the 78.6 % XC retracement, marking D point completion at approximately 2037.80, and gather as much as possible since the price has potential to go higher later on during the week, if not right away.
The said level also coincides with the trendline coming all the way from 17th January, which previously served as support, but now might act as minor resistance.
SL need not be higher up, but just above the X point. Perhaps a 1:1 trade!
Take care, trade safe and stay dandy!
Note: The information created and published here is not prohibited, doesn't constitute investment advice, and isn't created solely for
Comment:
Sell limit order triggered.
Comment:
I would suggest moving SL to breakeven with targets set around the 2033 area.
Trade closed: stop reached:
I managed 10 pips :) How about you?