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EURNZD Bullish Cypher Pattern And Long Opportunity Update: TP1 Reached

EURNZD Bullish Cypher Pattern And Long Opportunity

Description: Chartreaderpro finds a potential Harmonic Bullish Cypher Pattern formation on the daily chart. A potential bullish retracement opportunity at D – Fib 78.6 of XA –  We have a bullish shark pattern on H4 Chart as well. Break below 1.73900 will carry the price 1.73500. If the price breaks below 1.73500, target of the pair will be 1.72770 – Bullish Shark on H4 Chart –

We will enter Long at D of Shark Pattern.

Trade Period: Intraday Trading – Midterm Trading

Pair / Instrument: EURNZD

Time Frame: H4

The trend in the Timeframe: Bearish

The trend in the Daily Chart:  Bearish

Trade Based On: Potential Bullish Cypher Pattern Formation on the Daily Chart and Shark Pattern on H4 Chart

Accuracy: %81

Recommended Lot Size: 0.04@ 10 K Account with 1:100 Leverage

Trade: Long

The Area Of The Entry: 1.72800 – 1.72600

Stop Loss:  1.72200

Target 1: 1.73500 

Target 2: 1.73900

Target 3: 1.74300

What to Pay Attention: Traders who want to use short opportunity can enter short trade by the break below 1.73900 with stop loss above 1.73400.

You can view the setup:EURNZD Shark Pattern

Update: TP1 Reached 90 Pips

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Rules To Keep In Your Mind:  Trade Safe. Money  Management is the key to success in forex trading. Do not risk more than 1% of your account in each trade.

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DISCLAIMER: This is a technical analysis study, not an advice or recommendation to invest money

EURNZD Bullish Cypher Pattern:  Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. Chartreaderpro does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.

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