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UnknownUnicorn180388
Sep 8, 2016 7:41 AM

GBP.NZD - BULLISH CYPHER SETUP - 1.7871 Long

British Pound/New Zealand DollarFXCM

Description

On the GBP.NZD 4hr chart we have a potential long opportunity's at the D leg completion of bullish Cypher setup.

The price reversal zone on this pair is between 1.7871 & 1.7744
The PRZ zone is only a guideline of where we will be paying attention for trade setups and opportunity's.

Potential targets for the Cypher setup placed at the .382% and .618% retracement of the C to D move.
There is also opportunity to look for extended targets at around 1.8260
Stop loss would be placed below X leg structure support.

Target 1 - 1.8052
Target 2 - 1.8165
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