The pair has bounced off the deep correction lvl 78.6 FIB. As we can see it's resting now on the Monthly lvl of support and has broken CTL as well. On my opinion the pair has made new higher low and ready to go all the way up to 1.4600 min.
FX:AUDUSD In this trade we can see a nice preceding bullish trend heading towards an area of resistance, next we see a nice pin bar candlestick which tells us that the bullish power might be transitioning to the bears. Confirmation is needed for me, so i executed a breakout entry below the low of the pin bar candlestick or also called Indecision...
Quite a late entry into a daily bat pattern, which we could gain a few pips on nonetheless. Even if it does stop out we still have a potential movement into a large cypher pattern which could provide a large number of pips.
Bat pattern to continue what could be a consolidation in this pair. Buy at 111.995. Profit targets indicated by green box. Stop loss based on previous structure.
HI ALL, We might see a Bullish Cypher pattern setup here. We need to see a D leg Completion at a 0.786% for it to complete. Stops above X leg TGT 1 0.382 TGT2 0.618% Best of luck :)