NZD/USD Dead Cat Bounce 30min and Bullish Cypher on the 240min

There is a Dead Cat Bounce on the 30 min happening right now. Price retraced to the .50 fib, you can use which ever level you like, I like the .50 and .618 fibs. I am currently short (.71391) because of the big bearish pin bar and the shooting star candles. I have my stop just above the current swing high at .7160 and my target at .6985. There is also a Bullish Cypher Pattern on the 240 min. It completes at .6808, I will have my stop below the level at .6765 and targets at .6995 and .7110. Good luck trading out there.

Trade stängt: målet nått:

Target reached.

Kommentera:

The Cypher on the 240 min is still valid. It'll be awhile before we get there. Good luck trading out there.