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