GBPNZD Bullish Cypher and Long Opportunity
Pattern /Reason: Bullish Cypher Pattern
Time Frame: H1
Accuracy of the Pattern: 64%
Setup No: GBNZ120701
Recommended Lot: 0.20
Trade Period: Intraday / Midterm
Entry: 1.87600 – 1.87400 MM 2/8 H4
Stop Loss: Below X 1.87000
TP1: 1.87980 / Reached
TP 3: 1.89200
Divergence/ Convergence Confirmation: Not Yet – Will be updated.
Candle Pattern Confirmation: Bullish Pin Bar Waiting Confimation
Moving Average Confirmation: Nothing Particular
The trend of the Timeframe: Bearish
The trend in the Daily Chart: Bearish
Update: TP1 Reached. Book partial profit and move Stop Loss to entry.
Warning and Things to Pay Attention:
- Harmonic Patterns are reversal patterns and mostly against the main trend on the chart they appear.
- Target levels are determined by MM Calculation as the pattern has not been completed yet. They may vary 3-5 pips according to the completion level of the predicted patterns.
- Pay attention to Time Frame, Trade Period and Estimated Completion Time, Accuracy and Recommended Lot Size clauses mentioned below.
- Do not risk more than 2% in one trade setup.
- We usually book partial profit at the first target and move our stop loss to entry or break-even level. Use your own risk/profit management to exit the trade.
- We are publishing potential opportunities. There are no certainties and traders bets on possibilities. Read the setup carefully before entering a trade and take your own decision.