GBPNZD: Cypher patter (1 HR) !!!

FX:GBPNZD   British Pound / New Zealand Dollar
564 22 21
UPDATE #2: Target #2 achieved, Good trade overall :)

UPDATE #1: Target #1 achieved, stop loss moved to breakeven !!

Hello Traders,

We've got a bullish Cypher Pattern that has just completed and the market is currently around the completion point, it's not the prettiest cypher but it is a valid one. This pair was able to break the 4 year weekly resistance and this is attracting many buyers in this pair. I have probably mentioned this in previous posts that, cypher patterns don't really have a good risk to reward. But this pattern has a pretty good winning percentage attached to it. Finding this type of pattern in the direction of the MAJOR trend is even better. For this particular setup, the risk to reward does seem to work in our favor. The stop loss is placed below the 4 hr             trend line (black line), below the consolidation area (pink box) and below the round number of 2.1300. See the chart for more details.

Please feel free to AGREE or DISAGREE with this idea. Hit that thumbs up button (top left corner of this chart) if you like the idea. Good Luck :)
EXcellent analysis.I saw it very late,I wish I could make this trade.
+1 Reply
moneymaking TahirAli
Hey Tahir, that's alright, there are opportunities everywhere in the market, you just need to find them. We, traders, are like gold diggers, in order to find pure gold you have to move around all the dirt on top, it's the same thing with us. You have to remove all the low probability trades in order to find the real good high probability trades. I hope the analogy was clear enough, LOL :)
+1 Reply
Just super!
+1 Reply
Hey Mikhail, Thank you very much :)
Amazing call mate
+1 Reply
moneymaking Technician
Thank you Technician. Highly appreciated :)
+1 Reply
Very good trades bro! You've been killing it! =)
+1 Reply
moneymaking Daniel.B
Hey Daniel, Thank you so much. Appreciate it :)
+1 Reply
nice one :) still waiting to short here, lol
+1 Reply
attilol Piphunters
looking for short too @ 2.1600 maybe, what u think @Piphunters
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