Bullish Cypher Pattern setting up on USDJPY hourly chart
Attached is an image of a cypher pattern setting up on the USDJPY hourly.
Details are in the image, but to recap:
Entry is between 119.467 and 119.335. Up to you how deep you think it will dive.
Stoploss is below X (indicated in the image). I'm putting mine around the 119.170's.
Target 1: 38.2% retracement of CD. 119.856
Target 2: 61.8% retracement of CD. 120.174. However, 120 is an even-handled number and may be a stubborn resistance level, so perhaps lower the Target 2 to just below 120.
Details are in the image, but to recap:
Entry is between 119.467 and 119.335. Up to you how deep you think it will dive.
Stoploss is below X (indicated in the image). I'm putting mine around the 119.170's.
Target 1: 38.2% retracement of CD. 119.856
Target 2: 61.8% retracement of CD. 120.174. However, 120 is an even-handled number and may be a stubborn resistance level, so perhaps lower the Target 2 to just below 120.
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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.