FX:NZDUSD   New Zealand Dollar / U.S. Dollar
In the daily, we could see a pin bar formed yesterday rejecting key resistance zone 0.8400. After barely taken out the pin's low, market has now rallied back up and potentially re-testing the resistance zone again.

In H1, we could see a potential bearish cypher pattern in progress. The C point here met at least 1.13 extension of XA leg but not 1.272 extension of XA leg. Some will say this is not cypher as it does not meet at least 1.272 and some will say it is as it meets 1.13. If you are an expert in cypher , please enlighten me here as to which is right.

I will be keenly interested to short at the completion of the cypher pattern at point D around 0.8398 with stop loss and target 1 shown in the chart. Once target 1 reached, stop loss will be moved to BE. From there to trail stop.

Related Ideas

Hey Casey_Yeo, first of all nice charts. I usually don't comment on peoples charts because I know that every trader follows different rules and in my opinion as long as they can be consistently profitable then it's not my place to comment. But I saw you asked if any experts knew the rules about the cypher. I trade with the company Trade Empowered and it was one of our guys who discovered the cypher, so I'm pretty confident in this answer. The "C" leg of the cypher must touch the 127.2 extension at minimum to be considered a valid leg. Hope this helps
+2 Reply
joel.pena Akil_Stokes
Hello Akil, who is the creator of the cypher pattern? Thanks.
DennySantoso joel.pena
It's Darren from Trade Empowered
+1 Reply
joel.pena DennySantoso
Thanks Denny!
Casey_Yeo Akil_Stokes
Hey Akil, thanks for the clarification. It clears my confusion now. I have learned a lot from your videos. Keep them coming!
+3 Reply
Sam0101 Casey_Yeo
Hi Casey, do u think is time for kiwi's reversal?
Casey_Yeo Sam0101
No sign of reversal yet even though yesterday's candle closed as bullish pin bar. I will not trade counter trend here. I will wait for it to close above 0.8400 on daily basis before considering trading any longs. Basically will look for break and re-test as I don't trade breakout.
in my rulez a cypher B has to close above/below the 1.27, but structure looks nice also on daily. so this will be a valid short for me as well if we go there in overbought condition. the key leve at about .8413 is a good place for SL :)
Thanks for your comment. Your rule about cypher is what I thought too initially.
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