Yesterday I posted a chart looking at a bullish Cypher pattern on the NZDUSD. After a move to hit profits during the London session, price action has sharply retraced back into support presenting a double bottom with divergence on the RSI. If this level can hold I anticipate a rally up to at least the 8470 to 8500 level. With the same psychological level being right below the potential reward is well worth the risk in my opinion. "Plan Your Trade, Trade Your Plan"
Hi Akil, On the hourly, a bullish butterfly is about to complete at 0.8400 flat. Combined with your daily analysis, it would make it an awesome entry point with great risk/reward ratio.
Akil_Stokes
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Nice! Way to combine the higher timeframe analysis with the lower timeframe advanced patterns. Awesome entry reason. Now let's push this bad boy north!