I plan to start posting ideas based on harmonic patterns with their entry points based on wave patterns. Here in EURNZD we have a bearish cypher pattern completion. In the lower timeframes we see a MACD divergence meanwhile price is forming a rising wedge pattern. We should wait for a breakout below the lower TL and sell the market. Instead of placing our stoploss above X point of cypher we may place it above the previous swing point before the breakout. If we aim to the classic 0.382 & 0.618 fib levels of the AD wave we will have a great risk/reward ratio setup.
Entry:
Entry:
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