Hi Guys,
This is a bullish CYPHER pattern @ 0.7865 and stop loss will be placed below the X leg which we use as good support in this case. Targets will be at the 38.2% and 61.8% fibonacci levels. IF/WHEN first targets are met, half of the position would be closed for profit and stop loss for the second half of the position will be moved to break-even, ensuring a risk-free trade.
Thank you for your support.
Trade Numbers:
Risk: 29 x 2 = 58 pips
Reward #1: 31 pips. R:R = 1:1.1
Reward #2: 51 pips. R:R = 1:1.75
Plan your trade... Trade your plan.
This is a bullish CYPHER pattern @ 0.7865 and stop loss will be placed below the X leg which we use as good support in this case. Targets will be at the 38.2% and 61.8% fibonacci levels. IF/WHEN first targets are met, half of the position would be closed for profit and stop loss for the second half of the position will be moved to break-even, ensuring a risk-free trade.
Thank you for your support.
Trade Numbers:
Risk: 29 x 2 = 58 pips
Reward #1: 31 pips. R:R = 1:1.1
Reward #2: 51 pips. R:R = 1:1.75
Plan your trade... Trade your plan.
Trade active
Order Executed. Long @ 0.7865Note
Target 1 Hit! +31 pips. Move Stop Loss to Break-Even.Trade closed: target reached
Target 2 Hit! Total Profit on this trade = +82 pips.
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.