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JasonGraystone
Jul 23, 2015 8:32 PM

NZDUSD Bearish Bat and Bullish Cypher 60 min Short

New Zealand Dollar/U.S. DollarFXCM

Description

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!


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

JasonGraystone
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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