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MRamos
Jul 18, 2014 8:20 PM

4H Cypher Short

Australian Dollar/U.S. DollarFXCM

Description

I will try this trade.
PROS: The Ratios line up nicely
RSI is approaching over bought.
Fib Ret of Daily leg, puts the .618 just above entry point.
and we could be in consolidation.

CONS: RSI on Daily is in the middle, still a lot of room to move either way.
The "C" point of the Cypher did not break structure to the down side. ( see circle area).

Good Luck.
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