Cypher Pattern, USD/MXN, 30min

Here I see a Cypher Pattern on the USD/MXN 30 min chart. I believe that the market will rally to the 1.618 extension of the BC leg. This will allow us to enter at the B point giving us exactly a 2:1 risk reward ratio. There is support from the linear regression channel with a standard deviation of 2 and -2, which suggests that the market will rally of the lower deviation and rally to the higher deviation.

I have placed my entry at point B my stop at point A and my limit at the 1.618 extension of the BC leg. it is likely that this trade will take about 20 hours, but it may very well complete before then.

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Thanks again, Good Trading.