GBPAUD - 1HR CYPHER - LETS SEE IF WE SQUEEZE ANOTHER
Hi Traders, as we see a lot of times during consolidation periods. Multiple opportunities of Advanced Harmonic Patterns forming and the best way is counter trade them until we get a break out. The only issue is we don't have a clear direction most times on if will price go up or down. Either way we trade everything with no subjectivity unless your rules say otherwise based on HTF or LTF might show a clear sign of the pair being bullish or bearish or maybe structure formation.
Anyway here is a potential Bear Cypher if we go past the B Leg look for an opportunity on this trade.
Pattern will be invalid if we violate the X leg or Fall below the C leg - whichever comes first
Entry - 78.6% Cypher
TP1 TP2 will be adjusted when we have a clear D completion - unless we get stopped out first.
Stops always beyond our X Leg
Can we push another Cypher completion - lets see
Enjoy and happy trading this week.
Anyway here is a potential Bear Cypher if we go past the B Leg look for an opportunity on this trade.
Pattern will be invalid if we violate the X leg or Fall below the C leg - whichever comes first
Entry - 78.6% Cypher
TP1 TP2 will be adjusted when we have a clear D completion - unless we get stopped out first.
Stops always beyond our X Leg
Can we push another Cypher completion - lets see
Enjoy and happy trading this week.
Comment:
We now have a BAT Pattern forming in this trade. XC would be the XA for the Bat - also we have 1.272 1.414 Fib Ext and also the 78.6% Cypher Entry and 88.6% Bat entry all in this potential reversal zone.
Comment:
Pattern is now invalid