Sell the NZDUSD. Cypher Pattern
kinda messy but...
We got the Cypher pattern completing at 1.618 (according to the Fib expansion) at an exchange rate of 0.72860.
Let's wait for a confirmation (could be at 0.72446) to sell this pair.
The first exit would be at 0.71298 (50%) and then moving the SL to the breakeven point.
The second exit at 0.70921 (61.8%).
I did not include the retracement for the AD swing because it will be too difficult to read with it in place. You can also use 0.382 and 0.618 Fibonacci retracement levels of the CD leg.
We got the Cypher pattern completing at 1.618 (according to the Fib expansion) at an exchange rate of 0.72860.
Let's wait for a confirmation (could be at 0.72446) to sell this pair.
The first exit would be at 0.71298 (50%) and then moving the SL to the breakeven point.
The second exit at 0.70921 (61.8%).
I did not include the retracement for the AD swing because it will be too difficult to read with it in place. You can also use 0.382 and 0.618 Fibonacci retracement levels of the CD leg.
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