Hi Traders, we have some advanced patterns on the weekly.
In the analysis we have a very important structure based trade making the probability for reversal more in our favor.
1. Advanced Pattern Completion - Cypher 1
2. Fibonacci Confluence Zone
3. 50.0% From lowest to highest Structure
4. 61.8% From our X to C Structure Retrace
5. 1.272 Fib Extension from our C Leg
6. 1.414 Fib Inversion
7. 78.6% Cypher Entry
8. B Leg structure falling just above the Zone which may act as a test and hit entry and get support
9. Previous structure marked with arrows S
Seems to be a lot to take into consideration for this zone for a potential reversal.
For those who trade this pair but dont trade weekly, maybe in your rules you can look for something in lower time frames to get involved.
I will update this if we get closer to the entry.
In the analysis we have a very important structure based trade making the probability for reversal more in our favor.
1. Advanced Pattern Completion - Cypher 1
2. Fibonacci Confluence Zone
3. 50.0% From lowest to highest Structure
4. 61.8% From our X to C Structure Retrace
5. 1.272 Fib Extension from our C Leg
6. 1.414 Fib Inversion
7. 78.6% Cypher Entry
8. B Leg structure falling just above the Zone which may act as a test and hit entry and get support
9. Previous structure marked with arrows S
Seems to be a lot to take into consideration for this zone for a potential reversal.
For those who trade this pair but dont trade weekly, maybe in your rules you can look for something in lower time frames to get involved.
I will update this if we get closer to the entry.