FX:EURCAD   Euro / Kanadischer Dollar
On the EUR.CAD 15min chart we have a potential short opportunity at the D leg completion of bearish Cypher setup.

The price reversal zone on this pair is between 1.3890 & 1.3914
The PRZ zone is only a guideline of where we will be paying attention for trade setups and opportunity's.

Potential targets for the Cypher setup placed at the .382% and .618% retracement of the C to D move.
There is also opportunity to look for extended targets at around 1.3820
Stop loss would be placed above X leg structure resistance .

Target 1 - 1.3857
Target 2 - 1.3836
Kommentar: If you front run your orders, you may have been triggered into this position as it heads to target 1.
Kommentar: If you got triggered into this position your target 1 should be attained at 1.3857
Hey Tom love your analysis! A question I had about trading harmonic patterns is should you be keeping a consistent risk amount ( ex. Risking $100 per trade if it's 20 pips or 35 pips ) or should you be trading amount a consistent lot size?
+1 Antworten
TomHall Nogioski
@Nogioski, Thanks very much.
For me personally I always trade 1% per position.
Whether the pip difference is 20 or 200 pips I will always adjust lot size to take this into consideration.

I hope that helps.
Hi Tom.

Please check as price hit the PRZ.
TomHall Rizwanacma
@Rizwanacma, Hi,
Price had already hit target 1 if you entered at the D leg
+1 Antworten
TomHall bewarali
@bewarali, Great to hear :-)
Did you open the short? I did not. Any recommendations on this pair? Thank you very much!
+1 Antworten
TomHall masiaroa
@masiaroa, I didn't either, however there are people that did.
gha381a TomHall
@TomHall, so we missed it?
TomHall gha381a
@gha381a, I didn't personally take it as it didn't meet my rules.
+1 Antworten
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