J_Graystone
Short

NZDUSD Bearish Bat and Bullish Cypher 60 min

FX:NZDUSD   New Zealand Dollar / U.S. Dollar
The underlying trend of this pair is clearly bearish so any opportunities to get short that meet our rules we must jump at.
as you can see there is a potential Bat pattern setting up at 6738 which will also be a retest of previous structure resistance presenting a great opportunity to get short.

IF market continues to push down, THEN, there is a cypher pattern down at 6538. you might want to check your data though because the C leg comes within a tick or so of the 127 extension on my trading platform data so its not one I can involve myself in unfortunately.

Ill be looking out for the bat though!


Daily @ 2010-05 was violated + bearhish trend, that's why Cypher looks dangerous. ;)

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Hey Raf, I agree the trend is bearish on this pair however, if you are a cypher pattern trader, you must trade every single one you see that meets your rules. If you don't, then you cannot expect the same results as your backtesting. :-)
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