In the daily, we could see a pin bar formed yesterday rejecting key resistance zone 0.8400. After barely taken out the pin's low, market has now rallied back up and potentially re-testing the resistance zone again.
In H1, we could see a potential bearish cypher pattern in progress. The C point here met at least 1.13 extension of XA leg but not 1.272 extension of XA leg. Some will say this is not cypher as it does not meet at least 1.272 and some will say it is as it meets 1.13. If you are an expert in cypher, please enlighten me here as to which is right.
I will be keenly interested to short at the completion of the cypher pattern at point D around 0.8398 with stop loss and target 1 shown in the chart. Once target 1 reached, stop loss will be moved to BE. From there to trail stop.
In H1, we could see a potential bearish cypher pattern in progress. The C point here met at least 1.13 extension of XA leg but not 1.272 extension of XA leg. Some will say this is not cypher as it does not meet at least 1.272 and some will say it is as it meets 1.13. If you are an expert in cypher, please enlighten me here as to which is right.
I will be keenly interested to short at the completion of the cypher pattern at point D around 0.8398 with stop loss and target 1 shown in the chart. Once target 1 reached, stop loss will be moved to BE. From there to trail stop.
