FX:NZDCAD
Bullish Cypher was formed on the 8-Hour timeframe followed by the formation of a possible bearish cypher on 1-Hour time frame.
Bullish Cypher already in profit approaching TP1.
JNJ 60 Min Bullish Cypher Pattern - Long Setup
Bullish Cypher has been detected on JNJ 60 Min.
Price bounced several times about 141.95
Enter LONG JNJ at @ 142.7 with a stop loss going at @ 141.0. The first target is at @ 144.5 and the second target is at @ 146.20.
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Happy to sell at the top@1.1500 with 2nd Gartley on 7th Nov 2018. Potential Bullish Cypher next if 1.1335 -1.1355 zone holds as support which is PRZ (Potential Reversal Zone) of Cypher Pattern
Target 1 zone - 1.1445 -1.1450
Target 2 - 1.1500 (Top of the Pattern)
Target 3 - 1.1600 - 1.1625 (Valid only if holds above 1.1500 mark)
Last...
Bullish Cypher Criteria
The B point retracement: 0.382 and 0.618 of XA,
The C point retracement: 1.272 to 1.414 of XA,
The D point retracement: 0.786 of XC
Overview & Summary
TP 1: 1.14239 based on 0.618 fibonacci retracement ( Short Term Target)
Risk to Reward 1:2
Support at 1.1300 (from 15 Aug 2018 - 1 Nov 2018)
Appears to be a channel between 1.13...
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