NZDUSD: Potential Bullish Cypher Pattern (BE CAREFUL)

7 thg 12, 2015

Potential bullish Cypher pattern working from C to D on the NZDUSD 4 hour chart. If you look left you'll see that the Cypher completion also comes in an a decent level of previous structure resistance turned support.

One BIG thing to pay attention to as the week goes on is the RBNZ Monetary Policy Statement that comes out on Wednesday at 3pm NY time. Fundamentals are by far the weakest area of my trading most because I don't use them) but there's about a 50/50 chance that a rat cut will occur.

While I'm on the topic of patterns I addressed subject of people telling you that "patterns don't work" in this mornings My Morning Rant Video youtube.com/watch?v=ddtGKMZZU2o While you're over there let me know what you think about my previous video titled "What It Takes to be Successful In Trading"

Akil Stokes
Chief Currency Analyst & Head Trading Coach
TradeEmpowered.com