Yesterday I took a long entry on this what I find a nice structure trade setup. Market broke previous resistance
and then went into extreme oversold on the RSI right at previous resistance which now became new support. I bought next bar candle. Market leaped north and took out target 1 which was good for 16pips. I'm still in that trade and looking for a rally all the way back up to 0.8917. I also have a cypher pattern watch but I don't want the market to get there as it will invalid this setup and a possible continuation to the downside may follow. If the Cypher pattern PRZ is reached I will only enter on a colour bar rotation and if there is an oversold RSI reading. Other then that I will be on the lookout for short entry signals near 0.8917
and then went into extreme oversold on the RSI right at previous resistance which now became new support. I bought next bar candle. Market leaped north and took out target 1 which was good for 16pips. I'm still in that trade and looking for a rally all the way back up to 0.8917. I also have a cypher pattern watch but I don't want the market to get there as it will invalid this setup and a possible continuation to the downside may follow. If the Cypher pattern PRZ is reached I will only enter on a colour bar rotation and if there is an oversold RSI reading. Other then that I will be on the lookout for short entry signals near 0.8917