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.
