NZDUSD – Bearish Cypher & Bat Setup
On the NZDUSD 1 Hour chart we have 2 potential trade opportunity’s at the D leg completion of a bearish Bat & Cypher Bearish Bat Setup ( Light Grey ) – D leg completion 0.6791 Bearish Cypher Setup ( Dark Grey ) – D leg completion 0.6814 Bat Fibonacci Confluence – 161.80% – 88.60% Cypher Fibonacci Confluence – 127.20% – 78.60%.
BEARISH BAT Pattern on NZDUSD / Good Risk Reward / Within Trend
Update on NZDUSD: Coming right into previous resistance which is typically a good way to look for a shorting opportunity. In this case the market gives us a bearish bat pattern at the 88,6 %Retracement from X-A. Moreover the Completion point D lines up perfectly with the 61,8 % Retracment from Swing High to Swing Low. Targets and Stops as shown on the chart. Make sure it fits your personal trading plan! Have a great weekend!
NZDUSD Break & Retest
Nice probability on this short entry – Break & retest of short term trend line, Break & retest of near term SR, Double top at R1 on the 1H, Text book high tests, PT at the pivot, or trail that stop…?
Major resistance here and doesn’t seem to be bullish, macD shows buyer volume decreasing so should be dropping soon to the next support level hopefully.
Please keep in mind that I am not giving any trading signals or trade calls here. Only providing my own trade thoughts for your benefit and insight as to my trading technique and style. Please don’t ask if you should or should not take the trade or ask for stop loss and take profit levels. Any SL or TP given on my trades are my own I have used for my trade and are not recommendations for you to use. If you are not sure, then you do not have a trading plan for yourself in place. I suggest you make one before you continue to do any trading!