Bullish Cypher on NZDJPY
This is probably the best trade set-up of the day for me in terms structure. The market has come back to test a trend line resistance now turned support and at the same time completing a bullish cypher where there is a lot of structure looking left. The Risk:Reward ratio is more than 1:1 so let's hope for a winner.
youtube.com/watch?v=BoWw6XKzbxQ
tradewithme.co.uk
youtube.com/watch?v=BoWw6XKzbxQ
tradewithme.co.uk
Note
Following my earlier post on this pair, the market has come down a little than i expected so I've adjusted my first profit target to 80.25, which is now less that 3 pips away. The reason for that is because the first target is always the .382 retracement of the CD leg and because the market has come in a little deeper then out profit target has to shorten.Trade closed: target reached
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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.