leszekstanislaw
Long

EURNZD 1D - Cypher, RSI(7) divergence on 1H

FX:EURNZD   Euro Fx/New Zealand Dollar
52 4 2
What I can see here is:-
  • bearish cypher (on daily chart )
  • grey are S/R - now there is RSI (7) diveregence
  • red are so called overbalances - usually pullbacks are not exceeding them
So in my opinion potential scenario is
  • pullback
  • then Cypher's D
  • then short to 1.5 (be carefull, this is very 'round' :)
Best of luck for everyone! 
Leszku it's not a Cypher (XA is rather ABCD), C should NOT be closed above 1.414 and entry always @ 0,76 of XA.

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Indeed, Rafal, it shouldn't be more than 1.414. I must be blind - dzieki! Re entry - are you sure about .76 - always thought it should be .786?
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rafal_w leszekstanislaw
True 0.786 ;) my mistake.
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:) it's good to meet a countryman here
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