Hi guys,
This is a pattern traders dream, 2 patterns in one chart! Here we have the BAT PATTERN and the CYPHER PATTERN both of which complete within a 20 pip PRICE REVERSAL ZONE (PRZ) adding to the confluence of this trade.
Stops will be placed as usual, below the X leg and targets will be at the 38.2% and 61.8% retracement levels.
Thank you for your support.
Trade Numbers:
Risk: 80-100 pips x 2 = 160-200 pips (depending on entry)
Reward #1: 80-100 pips. R:R = 1:1/1.2
Reward #2: 100-120 pips. R:R = 1:1.25/1.5
Plan your trade... Trade your plan.
This is a pattern traders dream, 2 patterns in one chart! Here we have the BAT PATTERN and the CYPHER PATTERN both of which complete within a 20 pip PRICE REVERSAL ZONE (PRZ) adding to the confluence of this trade.
Stops will be placed as usual, below the X leg and targets will be at the 38.2% and 61.8% retracement levels.
Thank you for your support.
Trade Numbers:
Risk: 80-100 pips x 2 = 160-200 pips (depending on entry)
Reward #1: 80-100 pips. R:R = 1:1/1.2
Reward #2: 100-120 pips. R:R = 1:1.25/1.5
Plan your trade... Trade your plan.
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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.
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.