jp1989

EUR/GBP Cypher formation 1 HR (Sniper price action) strategy

FX:EURGBP   Euro / Britisches Pfund

On the EUR.GBP 1hr 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 .8519 & .8577
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 .8328
Stop loss would be placed above X leg structure resistance .

Target 1 - .8436
Target 2 - .8384
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