EURNZD Bearish Cypher Completion (Entry Based On Wave Patterns)

FX:EURNZD   Euro / New Zealand Dollar
I plan to start posting ideas based on harmonic patterns with their entry points based on wave patterns. Here in EURNZD             we have a bearish cypher pattern completion. In the lower timeframes we see a MACD divergence meanwhile price is forming a rising wedge pattern. We should wait for a breakout below the lower TL and sell the market. Instead of placing our stoploss above X point of cypher we may place it above the previous swing point before the breakout. If we aim to the classic 0.382 & 0.618 fib levels of the AD wave we will have a great risk/reward ratio setup.

Trade active
where would I place the stop loss if i was to enter the trade now?
As i said in my description do not enter now.. You should wait for a breakout below the wedge pattern i posted in the 15min chart and then place your stoploss above the last swing point before the breakout.
abdullahs Fxprotrader
okay, thanks a lot
You are welcome..! :)
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out