Reason for Entry 1. Possible Cypher Pattern Completion 2. ( D ) Falls Within Period of Consolidation 3. ( X ) is Structure Support ( Brexit Low )
Trade Execution Place ( 2 ) Buy Limit @ 1.2940 ( Front Run My Orders 5 Pips ) Place ( 2 ) Stop Loss @ 1.2725 ( 113% Extension of A to X ) Place Take Profit # 1 @ 1.3135 ( 36.2% Retracement D to C ) ( Front Run My Orders 5 Pips ) Place Take Profit # 2 @ 1.3265 ( 61.8% Retracement D to C ) ( Front Run My Orders 5 Pips )
Notes Place Trailing Stop Equal to Pip Difference of Buy Order Minus Stop Loss = ( Risk ) on TP # 2 Order