Hey all! John (J1TFX) here. I'm a newbie trader that's getting into harmonics, so my apologies if the parameters are drawn incorrectly!
I'm currently tracking a bullish cypher pattern on the EURUSD on the 4H chart. All of the measures have hit and we are now awaiting the 78% retracement of leg XA for an entry long. There is a large supply zone looming just underneath our PRZ, so expect a bit of a drag down there to hit the level before proceeding. As always, my target will be set at a 38% retracement from leg A-D, with a secondary target @ 61.8 of the same leg.
If there are any suggestions that you may have, please don't hesitate to let me know! any type of constructive criticism is appreciated.
Cheers! And happy trading!
-John, J1TFX
I'm currently tracking a bullish cypher pattern on the EURUSD on the 4H chart. All of the measures have hit and we are now awaiting the 78% retracement of leg XA for an entry long. There is a large supply zone looming just underneath our PRZ, so expect a bit of a drag down there to hit the level before proceeding. As always, my target will be set at a 38% retracement from leg A-D, with a secondary target @ 61.8 of the same leg.
If there are any suggestions that you may have, please don't hesitate to let me know! any type of constructive criticism is appreciated.
Cheers! And happy trading!
-John, J1TFX