Art_of_Trading
Short

NZDUSD: Cypher - Short

FX:NZDUSD   New Zealand Dollar/U.S. Dollar
On FX:NZDUSD             , the market has no clear direction on 1h Bars. It moves sideways. there is a resistance level at 0.6778. The price hit it few items today, but it rejected and formed shooting stars. There is 2 options. 1) price may bounce again on that level and sellers will get control and price will go down. 2) the price breaks the resistance level . If it does then we have a structure high around 0.6830 and cypher pattern . Cypher has a highest winning rate among harmonic patterns and it may be a good opportunity to short.
T1 - 38.2%
T2 - 61.8%
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Comment: No much movement today, strong battle between bulls and bears.
Comment: Half Profit Locked, wait T2 to be hit
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