We got an an Bullish Cypher pattern about to complete on the USDCHF H1 timeframe back to back with the target 1 and 2 winner cypher we had on this pair yesterday. This potential cypher i got my doubts about the formation don´t look so good and its still counter trend. The RSI is floating around the 30 ish so not quite oversold yet so lets see. I would use have position size on this one.
I think you should sell this one ... it's a quite range there and after that usualy it resume the trend . watch the H&S formation
UnknownUnicorn101425
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I got you on that one, but its every man´s guess when the range will breake, i got my stop at the range low so if it goes lower then that, then my setup was wrong.
But my trading plan tell me that when there is a setup like this in consolidation i have to take it. But this one the formation don´t look very good so i´m on half position size. But on this pair i´m aboute 70 % winners with target one reached
UnknownUnicorn101425
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Either it was a bad pattern or the american GDP killed this trade, i think its a little of both, but now we got a break out of the range its been in for a while.
Remember FOCM tonight to take care with your positions!!