2018Jun04 NZDCHF H4 Possible Bearish Cypher

There is a possible bearish cypher for NZDCHF. Upon D completion at 0.69924 (78.6 of XC) and confirmation of a bearish bias, I will go short. Take profit targets are set at the 38.2 and 61.8 Fibonacci retracement levels of leg CD. The stop loss has the same number of pips as TP1 by default. Tentative details are as follows:

Trade Setup: Possible Bearish Cypher
Price Entry 0.69924
SL 0.70668 | SL pips 74.4
TP1 0.69180 | TP1 pips 74.4
TP2 0.68720 | TP2 pips 120.4
RRR1 1.00 | RRR2 1.62

Order avbruten:

This setup is invalidated as D completion did not occur. (June 19)