I am short the AUDUSD
now following the completion of the bearish cypher
in green. Now that the second bullish cypher
in red has formed ive decided to take half the position off at the .382 retrace of the bearish cypher
and ride the rest out to see if it will hit the completion of the bullish cypher
and give me an opportunity to reverse my position and get long on the D-leg completion of the bullish cypher
. Entry on the D-leg with stops below the X-leg and my targets are as written below.
Thanks for viewing my idea. If you have any questions or constructive criticism about this idea then please leave them in the comment section below.
Good luck with all of your trades!!