Here we have a bullish Cypher pattern on the NZD/CHF. CHF pears across the board are looking bearish for the Franc, this should be no different.
The X point concluded along what can be seen as a weekly pivot line so price may become volatile before breaking daily resistance and pushing towards our TP level. Risk is at a minimum 1:2 as always.
Cypher ratios
X:B = 0.382-0.618
A:C = 1.272-1.414
X:D = 0.786
The X point concluded along what can be seen as a weekly pivot line so price may become volatile before breaking daily resistance and pushing towards our TP level. Risk is at a minimum 1:2 as always.
Cypher ratios
X:B = 0.382-0.618
A:C = 1.272-1.414
X:D = 0.786
Trade active
I entered this trade prior to posting this analysis- I have now raised my stop loss to 0.6845. This has ensure that should my trade turn against me, the trade itself its 'bulletproofed'.
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.