EUR/JPY - Bearish Cypher (300+ Pips)
We're looking at another cypher pattern but this time on the 1h chart with EUR/JPY, this is an excellent shorting opportunity with over 1:3 risk to reward... Don't miss out on this one!
The D point forms at a major level of resistance, I'm expecting price to stall out on this level followed by an aggressive reversal.
The measurements for a valid cypher are detailed below.
B: 0.382 - 0.618
C: 1.272 - 1.414
X to D: 0.786
Feel free to connect with me below :)
The D point forms at a major level of resistance, I'm expecting price to stall out on this level followed by an aggressive reversal.
The measurements for a valid cypher are detailed below.
B: 0.382 - 0.618
C: 1.272 - 1.414
X to D: 0.786
Feel free to connect with me below :)
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I've held this position for almost 3 weeks for a total profit of 400 pips.
Another successful trade to add to the record book.
To all of my followers, keep on supporting my ideas and I'll keep on providing you with the best opportunities the market has to offer!