Hello traders, it appears NZD/CAD is now forming a bearish cypher pattern on the 1h chart. This is an excellent opportunity with a potential 200+ pip return!
The measurements for a valid cypher are detailed below.
B: 0.382 - 0.618
C: 1.272 - 1.414
X to D: 0.786
I'll be expecting price to stall out once it reaches the D point, keep this setup on your watch list.
Connect with me on social media for more trading inspiration :)
The measurements for a valid cypher are detailed below.
B: 0.382 - 0.618
C: 1.272 - 1.414
X to D: 0.786
I'll be expecting price to stall out once it reaches the D point, keep this setup on your watch list.
Connect with me on social media for more trading inspiration :)
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I expect one more move up before the drop!
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We're now running in 60+ pips profit, here is what I see happening.
This structure provides an excellent entry point for anyone who missed out on the initial drop.
This structure provides an excellent entry point for anyone who missed out on the initial drop.
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Price is now re-testing resistance, I'll be looking to re-enter after closing in profit upon market open this week.
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This is my current outlook on the daily chart, pay close attention to candlestick formations on the 1h and 4h chart for a reversal.
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