j1tfx

BULLISH CYPHER AUDUSD

Long
FX:AUDUSD   Australian Dollar / U.S. Dollar
Hope traders were able to capitalize on the bearish cypher that appeared on the AUDUSD 1H (and below). TPs hit, now anticipating the test of 0.79876. The 78% PRZ is actually a bit deeper than 79876, however in playing to the tone of structure analysis we are moving the potential level a couple of pips higher to ensure fill. I would not expect this pattern to unravel back up to the highs if hit; but look to take profit at levels around 79264 if triggered. Stops below the recent low.
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