AUDUSD two potential cypher trend continuation trades
Here we got a little different situation than normal, we got a small Cypher patter about to complete, but its not at a very good level cause the very strong resistance is at the area where the bigger red Cypher got its potential reversal zone "PRZ"
So we got 2 options, take both patterns and if price retrace further up against the resistance and the first small pattern gets stopped out, we just enter the bigger Cypher at a higher confluence level where price got a lot higher chance of a reversal because of the strong resistance and we make the lost pips back and some aditional profit.
Or just pick the pattern you think its the best compared to the price action when it comes near the first pattern completion. I can reveal i take option one, i don´t want to miss a trade cause price may never retrace high enough, so we take both patterns cause they got a positive R:R so we will make money even if the first one stops us out.
Kind regards
Thomas Jeff
So we got 2 options, take both patterns and if price retrace further up against the resistance and the first small pattern gets stopped out, we just enter the bigger Cypher at a higher confluence level where price got a lot higher chance of a reversal because of the strong resistance and we make the lost pips back and some aditional profit.
Or just pick the pattern you think its the best compared to the price action when it comes near the first pattern completion. I can reveal i take option one, i don´t want to miss a trade cause price may never retrace high enough, so we take both patterns cause they got a positive R:R so we will make money even if the first one stops us out.
Kind regards
Thomas Jeff
