Potential long opportunity at the completion of green bullish Cypher. And if the price will push up we have a potential short opportunity at the comleation of yellow bearish Cypher.
Opportunity for an aggressive entry with Bullish Cypher pattern on USDCAD ONLY if it fits your trading strategy, otherwise sit back and wait. That's what I'll be doing, waiting for my entry signal and desired R/R.
So we can see that we have a possible cypher near completion.
Had our X to A leg and B to C which has brough thsi pair back to previous resistance levels which is a good sign and we are in the right area of the RSI, not quite over sold but along with structure I feel we will see a decline down along with the way this pair has been moving over the last month.
USDCHF has completed a bearish shark at confluent reversal zone. Unhit weekly and daily pivots add pressure to the downside. The new unhit daily pivot aligns with .382cd and makes for a nice target level. SL above S/R provides a substantial R/R. A more aggressive T2 may be placed at .618CD.
Confluence in the PRZ:
1. Bearish Shark Completion
2. 1.618bc
3....
