NZD.USD - BULLISH CYPHER SETUP - .7026
On the NZD.USD 4hr chart we have a potential long opportunity's at the D leg completion of bullish Cypher setup.
The price reversal zone on this pair is between .7026 & .6970
The PRZ zone is only a guideline of where we will be paying attention for trade setups and opportunity's.
Potential targets for the Cypher setup placed at the .382% and .618% retracement of the C to D move.
There is also opportunity to look for extended targets back into .7200
Stop loss would be placed below X leg structure support.
Target 1 - .7107
Target 2 - .7158
The price reversal zone on this pair is between .7026 & .6970
The PRZ zone is only a guideline of where we will be paying attention for trade setups and opportunity's.
Potential targets for the Cypher setup placed at the .382% and .618% retracement of the C to D move.
There is also opportunity to look for extended targets back into .7200
Stop loss would be placed below X leg structure support.
Target 1 - .7107
Target 2 - .7158
Kommentera:
RSI now oversold at 16.08
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ALERT:
Price approaching D leg completion.
Price approaching D leg completion.
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NZD.USD - D leg completed
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Minor support found at .7038, potential reversal?
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Bullish period now expected.
Order avbruten:
No trade taken on this pair, price has now broke X leg invaliding entry.
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On Sunday 18th December i will be posting my personal rules on how to trade the Bat setup.