There is a bearish cypher which formed for NZDUSD. Price entry at 0.73514 is guided by a close of a red candlestick which completely engulfed the bodies of the candlesticks of the last 2 trading days. Take profit targets are at the 38.2 and 61.8 Fibonacci retracement of the CD leg. Stop loss is set at the same number of pips as TP1.
Trade Setup: Bearish Cypher
Price Entry 0.73514
SL 0.73999 | SL pips 48.5
TP1 0.73029 | TP1 pips 48.5
TP2 0.72457 | TP2 pips 105.7
RRR1 1.00 | RRR2 2.18
Status/Remarks: TP1 & TP2 hit! :)
Trade Setup: Bearish Cypher
Price Entry 0.73514
SL 0.73999 | SL pips 48.5
TP1 0.73029 | TP1 pips 48.5
TP2 0.72457 | TP2 pips 105.7
RRR1 1.00 | RRR2 2.18
Status/Remarks: TP1 & TP2 hit! :)