madi052893trading

A pattern based trade setup for a long and short opportunity

FX:EURUSD   欧元/美元
142 0 5
Hi guys recently we have a a breakout with a good candle break above close above the diagonal resistance here on the daily time frame. We could now project probably that it could form a potential bearish cypher for a short/sell opportunity on the future depending on future market sentiment or price action. As of the momemt we could go LONG/BUY entry probably on a retracement of the lower time frame or another breakout and stops could be base on a good risk reward ratio or based on ATR (15) multiplied by 2 and for a target could go on the pattern completion itself.

Once the pattern is complete ( bearish cypher ) and since this is on the daily, watch or look for more confluence or confirmation before going short to have a precise entry and tight stop loss and targets based on this setup as well with a good risk:reward.

Trade with care.
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