GBP.NZD - BEARISH CYPHER SETUP - 1.7662
On the GBP.NZD 15min chart we have a potential short opportunity at the D leg completion of bearish Cypher setup.
The price reversal zone on this pair is between 1.7662 & 1.7694
The PRZ zone is only a guideline of where we will be paying attention for trade setups and opportunity's.
Potential targets for the Cypher setup placed at the .382% and .618% retracement of the C to D move.
There is also opportunity to look for extended targets at around 1.7568
Stop loss would be placed above X leg structure resistance .
Target 1 - 1.7617
Target 2 - 1.7588
The price reversal zone on this pair is between 1.7662 & 1.7694
The PRZ zone is only a guideline of where we will be paying attention for trade setups and opportunity's.
Potential targets for the Cypher setup placed at the .382% and .618% retracement of the C to D move.
There is also opportunity to look for extended targets at around 1.7568
Stop loss would be placed above X leg structure resistance .
Target 1 - 1.7617
Target 2 - 1.7588
Comment:
GBP.NZD - D leg now complete.
Comment:
If you entered the market at 1.7662 your target 1 should be attained.
Comment:
If you entered the market at 1.7662 your target 2 should be attained.
Comment:
If you entered the market at 1.7662 your extended target should be attained.
Comment:
Potential price target at 1.7500
This position will still be valid so long as price doesn't exceed the C leg.