NZDCHF Long
Updated
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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