Akil_Stokes
Long

NZDUSD Bullish Cypher at Daily Supoort

FX:NZDUSD   New Zealand Dollar/U.S. Dollar
I've had my eye on NZDUSD             for a while now looking for a bullish opportunity only to see the market blow past structure level after structure level. Now it finally looks like I'll have a trading opportunity as price action looks to retest and hold it's current level of support.

If everything goes the right way a retest would give me a completed Cypher pattern with an excellent place to hide stops. As mentioned before, daily support is present, along with a key psychological level in 84 flat. Lately I've been taking profits at a single position but in this particular opportunity I may look to split the position in half once again depending on what price action looks like.
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Related Ideas

zou
2 years ago
thanks Akil
+1 Reply
smccreery
2 years ago
getting close already :)
+1 Reply
Sam0101
2 years ago
Is this an usual drop down to 0.843 now ?
Reply
IGcher
2 years ago
Am i right if i say that pattern is already complete?
Reply
alogg IGcher
2 years ago
Perso I took lonk on completion of butterfly on 30mn chart. I wasn't sure to keep it open but now a triangle pattern on completion might fire up so I would keep it long for another few hours until US news later today maybe
snapshot
Reply
Akil_Stokes TOP IGcher
2 years ago
Correct the pattern has completed overnight (my time) and has since rolled up to the 1st target area, so if you didn't catch it, I wouldn't advise looking for a second chance
Reply
m4nti
2 years ago
That worked out nicely. Were you expecting an exact retest? Or just the cypher completion?
Reply
Akil_Stokes TOP m4nti
2 years ago
I was expecting the Cypher completion but the structure level served as a nice level of protection as well. So I thought the level as a whole had a good chance of holding, but worked out in my favor that it turned around right away
Reply
Sam0101 Akil_Stokes
2 years ago
Is it going to retest 0.853 again?
Reply
Akil_Stokes TOP Sam0101
2 years ago
If we can hold this support level then yes I think we'll come up to test 85's again.
Reply
m4nti Akil_Stokes
2 years ago
Thanks a lot for taking the time to reply. You and Jason are doing the lord's work :p
+1 Reply
Sam0101 m4nti
2 years ago
todays US news bring impacts to it. Will it able to sustain and hold?
Reply
Akil_Stokes TOP Sam0101
2 years ago
1st targets should have been hit before the news was released
Reply
After today's movement on the Kiwi pairs, there may be another long opportunity in the waiting for us. I wouldn't complain about getting a 2nd bounce of support and potentially banking some more profits ;-)
Reply
Sam0101 Akil_Stokes
2 years ago
2nd bounce of support means?
Reply
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