USDCAD: Potential Cypher + Structure
On
USDCAD
, there was nice upward movement on 1H bars, but last move broke the structure; thus, there is no direction bias and price entered in consolidation zone.
There is a strong support level at 1.3227 level. Price respected this level already few times and it is more likely that it will act as the support next time. The Cypher pattern appears in those movements, which gives clear guidance where to enter and put SL and TP.
T1 - 38.2%
T2 - 61.8
USDCAD
, there was nice upward movement on 1H bars, but last move broke the structure; thus, there is no direction bias and price entered in consolidation zone. There is a strong support level at 1.3227 level. Price respected this level already few times and it is more likely that it will act as the support next time. The Cypher pattern appears in those movements, which gives clear guidance where to enter and put SL and TP.
T1 - 38.2%
T2 - 61.8