AUDCAD counter trend long opportunity on cypher formation

Here on the AUDCAD it looks like we got some short term relief, from the heavy bear trend we have been in for a while. Down at structure support we got a Cypher formation forming up to catch a relief if we get it, so we only go for 1 target. PRZ is at 0,94820

Kind Regards
Thomas Jeff

Comment:

Trade Invalid - Orders removed. We have had quite a lot of setups come within a few pips at our PRZ and then reverse to target. I have recieved quite a few messages about front running orders. And i will repeat it here again - It´s a very bad habit to get into. Moves happening without triggering a buy order is just part of the game - Part of a tradeplan. If you front run your orders, and those orders suddenly don´t get hit for a while, then people front run more and more until your Risk / Reward is so bad that you will suffer a bad drawdown when it hits you. So keep these trades as a setup that did not trigger. And stop calculating how much you would have made! It´s an important lesson.