Short

NZD/CAD - Bearish Cypher

Updated

Hello traders, it appears NZD/CAD is now forming a bearish cypher pattern on the 1h chart. This is an excellent opportunity with a potential 200+ pip return!

The measurements for a valid cypher are detailed below.
B: 0.382 - 0.618
C: 1.272 - 1.414
X to D: 0.786

I'll be expecting price to stall out once it reaches the D point, keep this setup on your watch list.

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I expect one more move up before the drop!

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We're now running in 60+ pips profit, here is what I see happening.

This structure provides an excellent entry point for anyone who missed out on the initial drop.

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Price is now re-testing resistance, I'll be looking to re-enter after closing in profit upon market open this week.

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This is my current outlook on the daily chart, pay close attention to candlestick formations on the 1h and 4h chart for a reversal.

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LewisGlasgow

📈 Master the Art and Science of Trading: sixfigurecapital.com

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