TomHall
Short

EUR.NZD - Bearish Cypher Pattern - 1.6690

FX:EURNZD   Euro Fx/New Zealand Dollar
On the EUR.NZD 15 min chart we have a potential short opportunity at the D leg completion of a bearish Cypher Pattern

The price reversal zone on this pair is between 1.6690 & 1.6724
The PRZ zone is only a guideline of where we will be paying attention for trade setups and opportunity's.

Fibonacci Confluence: 78.60% - 1.272%

Potential targets for the Cypher Pattern placed at the .382% and .618% retracement of the C to D move.
There is also opportunity to look for extended targets at around 1.6575
Stop loss would be placed above X leg structure resistance

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canway
a year ago
so,can we long now?
+1 Reply
TomHall TOP canway
a year ago
Hi,
For me personally no, patterns only become valid when they hit all Fibonacci points.
Price action must hit the D leg before looking to take a short position.
Reply
canway TomHall
a year ago
thanks,Tom
Reply
TomHall TOP canway
a year ago
No problem at all.
Reply
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