+++ Don't forget to LIKE & Follow+++I'm looking at a Potential Bearish Cypher Pattern on 1H, AUDCAD.
Since price is in downtrend you can use the Cypher Pattern as an entry reason for your shorts.
Stops above X and previous structure level, Targets are conventional - if you choose you can shoot for a retest of A's leg for 2nd Target.
Entry @ 0.9911
Stop @ 0.9978
Initial Target 1 @ 0.9854
Initial Target 2 @ 0.9836
Good Luck!
-Alex
I'm a Professional Currency Trader & Mentor with years of trading experience.
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Since price is in downtrend you can use the Cypher Pattern as an entry reason for your shorts.
Stops above X and previous structure level, Targets are conventional - if you choose you can shoot for a retest of A's leg for 2nd Target.
Entry @ 0.9911
Stop @ 0.9978
Initial Target 1 @ 0.9854
Initial Target 2 @ 0.9836
Good Luck!
-Alex
I'm a Professional Currency Trader & Mentor with years of trading experience.
Download my Free Ebook & transform your trading Today! bit.ly/2b0ky6D
If you'd like to see more good trading ideas from me, click the "Like" button!
You can get my trading ideas immediately, just make sure to follow me.