Double Bottom at Cypher completion on GBPNZD
Hi guys,
here on GBPNZD as you can see we have a nice double bottom (with RSI divergence) right at the completion point of the Cypher pattern. Besides, this level is also a level of structure that lines up pretty well with the 618 retracement of the bigger leg.
The last bullish candle is the final sign of a possible reversal.
We'll see. Stops below the low, target1 at the retest of the highs, target2 to be determined (right now i think at the second cypher's target)
If you want to share your thoughts or ask questions, feel free to comment below.
Otherwise, see you in the next chart!
here on GBPNZD as you can see we have a nice double bottom (with RSI divergence) right at the completion point of the Cypher pattern. Besides, this level is also a level of structure that lines up pretty well with the 618 retracement of the bigger leg.
The last bullish candle is the final sign of a possible reversal.
We'll see. Stops below the low, target1 at the retest of the highs, target2 to be determined (right now i think at the second cypher's target)
If you want to share your thoughts or ask questions, feel free to comment below.
Otherwise, see you in the next chart!
Trade closed: target reached:
First target hit! Stop at break even now.
Trade closed: target reached:
Second target hit for a total of 220 pips in profit!