Roker1
Short

Cypher & Butterfly completing right now!

FX:NZDUSD   New Zealand Dollar / U.S. Dollar
Hey guys,
on this pair we are in a downtrend on the 4hr chart. When this happens i start to look for trading opportunities into structure levels that may provide some resistance for a trend continuation trade. As you can see price is now coming back to the previous 4h structure resistance (black line) and right there there are two different harmonic patterns completing.
The first is the Cypher pattern (whose D point is precisely at the 0,7200 psychological level). The second one is the Butterfly pattern .
You may be asking yourself why this is the first time i publish a Butterfly pattern ; because i do not use this pattern as reason for entry. But i like to find additional clues to my trading decision, and that could be considered as one of those.
Stops above X, targets at .382 and . 618 retracement of AD leg.
Let's see what price does.

If you want to ask questions or explain your standpoint, feel free to write below.
Otherwise, see you in the next chart!
Trade active
Trade closed: stop reached
Se sei d'accordo, lascia un mi piace! Grazie
Canale Italiano: https://www.youtube.com/c/MisterForexIT
Ultimo video: https://youtu.be/0rIFF-j4kdM

If you agree, like this chart! Thanks
My last (english) videoanalysis here: https://youtu.be/RUySg8LW6Iw
EN English (UK)
EN English
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
HE עברית
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Get Help Feature Request Blog & News FAQ Wiki Twitter
Profile Profile Settings Account and Billing Get Help Ideas Published Followers Following Private Messages Chat Sign Out