BEARISH CYPHER PATTERN SPOTTED AT NZD/USD DAILY CHART!
As we see at the chart we have a bearish Cypher pattern at the daily chart.
200EMA currently flat without favoring shorts or longs positions but we have a very well repsected trend line(blue line).
TECHNICAL POINTS
We can enter the trade waiting a nice entry reason such as double top or a re-test of the descending trend line with bearish RSI divergence.
Or you can wait the signal from the MACD strategy as a confluence with the other factors mentioned.
POSSIBLE TRADE:
BUY STOP AT 0,73795
ENTRY-PENDING ORDER PRICE AT 0,7260
FIRST TARGET T1 AT 0,70795 WITH 1,40 P/L RATIO
SECOND TARGET T2 AT 0,6990 WITH 2,35 P/L RATIO
THANK YOU FOR SUPPORT!
HAPPY TRADING AND NICE PROFITS!
200EMA currently flat without favoring shorts or longs positions but we have a very well repsected trend line(blue line).
TECHNICAL POINTS
We can enter the trade waiting a nice entry reason such as double top or a re-test of the descending trend line with bearish RSI divergence.
Or you can wait the signal from the MACD strategy as a confluence with the other factors mentioned.
POSSIBLE TRADE:
BUY STOP AT 0,73795
ENTRY-PENDING ORDER PRICE AT 0,7260
FIRST TARGET T1 AT 0,70795 WITH 1,40 P/L RATIO
SECOND TARGET T2 AT 0,6990 WITH 2,35 P/L RATIO
THANK YOU FOR SUPPORT!
HAPPY TRADING AND NICE PROFITS!
Trade active
Comment:
Ouch i can see selling pressure already i hope you are on this trade and happy profits to everyone.
Trade active
Trade closed: stop reached:
Stop was hit before thgis trade work for us..