moneymaking
Long

GBPNZD: BULLISH CYPHER PATTERN ON 4 HOUR !!!

FX:GBPNZD   British Pound/New Zealand Dollar
Hello Trader,

Similar to the FX:GBPAUD             trade setup, here we also have a BULLISH CYPHER PATTERN on FX:GBPNZD             that is very close to the completion point. Note that we also have HIDDEN BULLISH DIVERGENCE on the RSI . Keep in mind that only take regular or hidden divergences seriously, once the market starts to BREAK STRUCTURE in the direction of the divergence. This pair has also been in a strong BULLISH trend and this pattern allows us to jump into the direction of the MAJOR TREND. We also got a favourable risk to reward ratio for this setup. See the chart above for more details.

Please feel free to AGREE or DISAGREE with this idea by leaving a comment below. Hit that thumbs up button (top left corner of this chart) if you like the idea. Good Luck :)
UPDATE #1: Hello everyone, unfortunately we didn't get our entry ttriggered and the market just hit both our targets. So, this is similar situation to AUDUSD bullish crab pattern idea that I posted couple of weeks ago. I have decided to hold onto this patterns. The only moment when this trade setup will become invalid is when we get BREAK and CLOSE above the "C" completion point. Until then, this pattern and this trade setup remains valid :)
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Looks good since I cant see nu making it to far up before a major reversal
+1 Reply
Hey ddp922, yeah the thing is we have gotten double top on GBPNZD and double bottom on NZDUSD, both are on DAILY time frames (see the charts below). Before selling or buying either of these pairs, we have to wait for BREAK and CLOSE beyond key levels (marked by black dashed lines in the charts below).

snapshot


snapshot
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See the GBPAUD trade setup that is in similar situation:
GBPAUD: BULLISH CYPHER PATTERN + HARMONIC ABCD [4 HR] !!!
+1 Reply
TahirAli moneymaking
Hi moneymaking,very good analysis. I am hoping that I will have a chance to enter either of these two trade possibilities.
+1 Reply
moneymaking TahirAli
Hey Tahir, thank you mate. Yes, these are definitely some good opportunities to get involved. All the BEST to you and have a GREAT WEEKEND mate. ENJOY :)
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TahirAli moneymaking
Same to you bro.Have a great weekend.
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I see a formation for a double top, It also broke a up trend price channel, so we have to wait and see if it was a false break to decide, anyways, im waitin for some price action on THE 2.3300 area
+1 Reply
moneymaking zakaria.serroukh.5
Hey zakaria, just wanted to clarify, on what time frame so you see that double top? If you could post a chart showing the double top that would be great. Thank you mate :)
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GBP NZD SHORT
+1 Reply
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