Potential Bearish Cypher Pattern NZDUSD 1hr Chart
Updated
More often than not the Cypher pattern will have an inverse risk/reward to target one. I wait for price to move into the completion area to a level that gives me at least a 1 to 1 risk reward. On this Cypher if you entered at the traditional price @.7013 you would be risking 57 PIPS to gain 50 PIPS. My limit order will be @.7017 which will give me my 1 to 1 risk reward.
Order cancelled
Pattern invaild
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