Long

NZD/CHF - Bullish Cypher

Updated

Hello traders, it appears NZD/CHF has formed a bullish cypher pattern on the 4h chart. This is an excellent long opportunity with a potential 250+ 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 further analysing this pair today to determine the value of this position.

Feel free to connect with me below :)

Note

Sharp reversal upon completion of the D point, we will more than likely see a type-II entry in the near future.

Note

Price is now looking like it will retest D before a large move up!

Note

Secure your position on NZD/CHF by moving your stop loss into profit to prevent any losses.

Or another advisable strategy would be to close your position and re-enter the market with 50% of your original position size with your stop loss placed at 0.68600.

That way you'll lock in profit on this trade :)

Trade closed: target reached

Previous trades shown on TradingView risking 1%.

NZD/CHF = 2%

USD/JPY = 0.5% (Secured profit at 0.382, re-entered with 50%)

GBP/JPY = 3.5%

Minimal risk, 6% growth over 3 positions in the past month.

Well done everyone :)

LewisGlasgow

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

Also on:

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.