We've probed this trade a bit when it didn't find 50EMA support -
LONG CYPHER?
Point B formed when price retraced XC and closed past 0.382 & closed before 0.618
Point C formed when price extended XC and closed past 1.272 but not beyond 1.414
We have a valid CYPHER if point retraced XC down to the 0.786 region, in which case...
Limit order at at ~ NZD 1.70318
Stop loss at 100 pips ~ NZD 1.69304
264 pips as follows:-
Take profit 1 at retracement of CD to 0.382
Take profit 2 at retracement of CD to 0.618
t > @bizlus
LONG CYPHER?
Point B formed when price retraced XC and closed past 0.382 & closed before 0.618
Point C formed when price extended XC and closed past 1.272 but not beyond 1.414
We have a valid CYPHER if point retraced XC down to the 0.786 region, in which case...
Limit order at at ~ NZD 1.70318
Stop loss at 100 pips ~ NZD 1.69304
264 pips as follows:-
Take profit 1 at retracement of CD to 0.382
Take profit 2 at retracement of CD to 0.618
t > @bizlus
