Completed Cypher // Double Top+2618 // AB=CD // IF=THEN ®

FX:AUDNZD   Australian Dollar / New Zealand Dollar

Cypher pattern can lead to mistrust, but the movement is understood, expected, and synchronized with sup&res level zones. It's Completed. Time to get short, target the 38.2% retracement ( Support zone ), and eventualy the 61.8% as second target.

(2618) - Double top >>> retracement to break the neck line >>> find support above neck >>> 61.8% retracement from top to previous support >>> sell with a Stop Loss above the Top (there's a cypher , the correct SL is above point X, target between the 127.2% ext and 161.8% ext. (look left for structure)

Double Top at the Previous Structure resistance level, there's a neckline to break, there's a support above that neck, and IF the price found pressure there, and IF the retracement hit the 61.8%, it can give us the second sign to get short with a target between the 127.2% ext and the 161.8% ext. (synced with the second target for Cypher pattern ).

AB=CD: There's "allways" a possibility of an AB=CD pattern on a 2618 setup, in this case the target is synced with the second target zone level for Cypher and between the 127.2% ext and 161.8% targets for the double top .

Double Top:


Safe Trades;
amazing analysis
thanks for posting
was looking at something similar but not in as depth as your chart
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