We've probed this trade a bit when it didn't find 50EMA support -
LONG CYPHER? Point B formed when price retraced XC and closed past 0.382 & closed before 0.618 Point C formed when price extended XC and closed past 1.272 but not beyond 1.414 We have a valid CYPHER if point retraced XC down to the 0.786 region, in which case...
Limit order at at ~ NZD 1.70318 Stop loss at 100 pips ~ NZD 1.69304 264 pips as follows:- Take profit 1 at retracement of CD to 0.382 Take profit 2 at retracement of CD to 0.618
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