USDCAD Bearish Cypher And Short Opportunity
Description: USDCAD completed a Bearish Cypher pattern on H1 Chart. Loonie retested 1.34400 and rejected. Bearish correction is predicted.
Warning and Things to Pay Attention:
1. Harmonic Patterns are reversal patterns and mostly against the main trend on the chart they appear.
2. Target levels are determined by MM Calculation as the pattern has not been completed yet. They may vary 3-5 pips according to the completion level of the predicted patterns.
3. Pay attention to Time Frame, Trade Period and Estimated Completion Time, Accuracy and Recommended Lot Size clauses mentioned below.
Trade Reason: Bearish Cypher Pattern
Time Frame: H1
Trade Period: Intraday / Midterm
Estimated completion time: 2-26 H4 Candle Stick
The trend in the Timeframe: Bullish
The trend in the Daily Chart: Bullish
The accuracy of the pattern: 92 %
Recommended Lot Size: 0.10 at 10K
Short at Market: 1.34190
Stop: Above 1.34500
Target 1: 1.34000 / Reached
Target 2: 1.33800 / Reached
Target 3: 1.33500
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DISCLAIMER: This is a technical analysis study, not advice or recommendation to invest money
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