Hi guys, here on GBPNZD as you can see we have a nice double bottom (with RSI divergence) right at the completion point of the Cypher pattern. Besides, this level is also a level of structure that lines up pretty well with the 618 retracement of the bigger leg. The last bullish candle is the final sign of a possible reversal. We'll see. Stops below the low, target1 at the retest of the highs, target2 to be determined (right now i think at the second cypher's target)
If you want to share your thoughts or ask questions, feel free to comment below. Otherwise, see you in the next chart!
Trade closed: target reached
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First target hit! Stop at break even now.
Trade closed: target reached
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Second target hit for a total of 220 pips in profit!