LewisGlasgow
Short

NZD/CAD - Bearish Cypher

OANDA:NZDCAD   NZD/CAD
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.

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Comment: I expect one more move up before the drop!

Comment: 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.
Comment: Price is now re-testing resistance, I'll be looking to re-enter after closing in profit upon market open this week.

Comment: This is my current outlook on the daily chart, pay close attention to candlestick formations on the 1h and 4h chart for a reversal.
Comment:
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your analysis is on point!
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any updates ?!
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currently in this trade, do you think it's going to go up now? I feel like it might of reverse by now and maybe i should opt out and take whatever profit i made? But then I also think it might just be noise, so stay in and ride the wave? Lol.. I'm still so new at this so i'm not pro at reading the charts completely..
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Great read thanks for sharing
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@Drey, you're welcome, thanks!
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I absolutely like entering on that retest my man ;)
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@ash1309, yeah it's looking good :)
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What you say about this pair right now?
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@aaqei, the update I posted yesterday still stands :)
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it is going up right now it will continue to upwards or will go down ? thanks in advance :)
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