We have got news coming within minutes. We will sure see some violent moves. I want to trade this Bearish Cypher pattern if it completes. I will enter at 1.09549 and set my stops at 1.09970 and target to 1.08707. We have a new structure low followed by a lower high, as we are trading the Cypher pattern, Its based on false impulse trend. So If I am saved by the spikes then I would expect a good short from the completion.
Unbreakable Rules
1. Never add to a losing position.
2. Never risk more than 5 percent of your trading capital on any one trade.
3. Always have a protective stop in the market.
Guidelines
1. Never close a trade without a reason.
2. Take responsibility for your trades.
3. Markets that have higher lows are in uptrends. Markets that have lower highs are in downtrends.
Unbreakable Rules
1. Never add to a losing position.
2. Never risk more than 5 percent of your trading capital on any one trade.
3. Always have a protective stop in the market.
Guidelines
1. Never close a trade without a reason.
2. Take responsibility for your trades.
3. Markets that have higher lows are in uptrends. Markets that have lower highs are in downtrends.
Missed the entry by a few pip, could have hit the targets, the idea was perfect.