USDCAD Daily Cypher Pattern
Potential Cypher pattern for a continuation of the long trend.
Keep in mind though, that the shorter trend is still bearish. Seeing as the structure is still pretty far away, I would put a pretty tight stop on this one.
Still a good RR ratio of about 2:1 for the first target, and if we get a continuation there is still a lot of pips to be made if you feel like trailing your stop further after the second target is reached.
Good luck!
Keep in mind though, that the shorter trend is still bearish. Seeing as the structure is still pretty far away, I would put a pretty tight stop on this one.
Still a good RR ratio of about 2:1 for the first target, and if we get a continuation there is still a lot of pips to be made if you feel like trailing your stop further after the second target is reached.
Good luck!
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Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.