AUDUSD is nearing the completion of a bearish cypher pattern on the 1HR chart. The PRZ may find resistance from the center of a rising channel. Entry is placed at the top of the PRZ with SL at 1.13XA and target at .5CD.
Confluence in the PRZ:
Confluence in the PRZ:
- Bearish cypher
- 1.272BC Projection
- 2.5AB=CD
- Channel center resistance
- S/R Zone
Trade active
Trade closed: stop reached:
Channel center line broken before target, SL reached: -9 pips