anthony.pham00
Long

GBPNZD Cypher 60min (Extended Targets and possible breakout)

FX:GBPNZD   British Pound/New Zealand Dollar
69 0 1
Got a Bullish Cypher on the 60min with a great risk to reward:
- Price is respecting the trend line
- Cypher D Leg completes just under the trend line.
- High probability of extended targets
- Price action showing strong trend to the upside making higher highs and higher lows at each cycle.

For this example, I've placed two targets levels. For this setup, I think targets can be extended further up if your trade plan allows for this adjustment.

**Note: If you flip to the weekly, you will see that price is now at an important structure level. Without going into too much detail, we could see a huge breakout to the upside. If price is rejected at the key resistance zone on the weekly, then at least we've bag some pips from the Cypher Setup :)

As always there are multiple ways to enter this setup.

Cheers
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