Here we see a Cypher pattern on the New Zealand,/ US charts,. This Cypher pattern is supported by a linear regression of the last moves with a standard deviation of 2 &-2 and the source set on High.
The market has completed the Cypher pattern and continued into some consolidation, which tends to be fairly normal. The expectation is that the market will rally out of consolidation up into the positive standard deviation line. I have marked the point at which the market should rally to with the forecast tool, expecting to take roughly 7 hours .
I have placed my entry, stop and limit like any other harmonic pattern , entry at point B , stop at point X and limit at the 1.618 extension.
Please check back in to see how this trade goes! don't forget to like or comment any opinions and suggestions. and please follow me for regular updates.
Thanks again, and Good Trading!
The market has completed the Cypher pattern and continued into some consolidation, which tends to be fairly normal. The expectation is that the market will rally out of consolidation up into the positive standard deviation line. I have marked the point at which the market should rally to with the forecast tool, expecting to take roughly 7 hours .
I have placed my entry, stop and limit like any other harmonic pattern , entry at point B , stop at point X and limit at the 1.618 extension.
Please check back in to see how this trade goes! don't forget to like or comment any opinions and suggestions. and please follow me for regular updates.
Thanks again, and Good Trading!