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ChrisThein

AUD/USD potential bearish Cypher 30 min

Short
Australian Dollar / U.S. Dollar (FX:AUDUSD)  
ChrisThein Updated   
FX:AUDUSD   Australian Dollar / U.S. Dollar
Cypher 30min 240min Bearish Patterns
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cypherpattern 30min 240min bearish
There is a bearish Cypher setting up on the 30 minute time frame. It also correlates with a 240 min resistance. This looks like a low risk high probability trade. I would keep your stops just above the swing high. I put a couple of structure based targets. Good luck trading out there.
Comment:
Its also a 50% retracement of that massive doji on the 240. Thanks.
Comment:
CORRECTION. This is not a valid Cypher. I got ahead of myself. I apologize. We still have a .786 fib retrace and structure resistance. It is also a 50% retrace of the massive shooting star (not a doji as previously mentioned) on the 240 min. Sorry for the mix up, this is still a great area for a short. Good luck trading out there.
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