NZDUSD Cypher
earlier we missed an opportunity to enter into a short with this pair, which eventually reversed and hit stops, however, the market began to paint a beautiful cypher. I'm watching Elliott waves along with the pattern to determine which is the preferred target, for now i'm fixed on my initial target, but i will go lower time frame for a more detailed view of the candles to know when to fold. 0.83389 fulfills the 1.618 expansion from wave 3 to 5, but it's not always a fixed retracement, so for now, i will stick with my initial target, a bounce at 0.83389 will make a nice entry though, but with the concentration of tops and bottoms that exist at my initial target zone , i'm certain the market will get a bounce at this zone.
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.