FX:AUDUSD   Australian Dollar / U.S. Dollar
69 4 5
And finally a few other opportunities on AUDUSD             : a bearish BAT on H4 (red pattern), and 2 bullish Cyphers on H1.

On this pair too, depending on price action, we might be able to get involved in all 3 patterns.

Now that the hard job is done, I can simply monitor price action and act accordingly.

Good luck in the markets this week guys !
Trade closed: target reached: T1 hit on blue Cypher : +24 pips
Stopped moved to BE, hoping for T2 (if not will be reloading to enter the yellow Cypher a bit lower)
Nicely done! I'm hoping we keep seeing higher highs and lower lows up until .7525, but I guess time will tell! (https://www.tradingview.com/chart/AUDUSD/KecOYGxd-AUDUSD-Long-Opportunity/)
@slindstr, Exactly, time will tell. Thanks for your input !
slindstr PRO journeyofarookie2.0
@journeyofarookie2.0, Time was nicer to you than me :) Great job! Since you're following the guys @ Trade Empowered I'm guessing you did some back testing - do you have any tips for how to do it or did you do it all manually?
@slindstr, Taking a beat up this week so this one was a good encouragement to hang on and stick to my trading plan!

I have about 280 hours backtesting in the bank at the moment, and many more to come. All backtesting is done manually. It's the hardest and most boring thing I have done so far, but the best to get really good at spotting patterns.

Some of the keys with backtesting that helped me :
- don't go too fast, take it bar by bar (I had to redo the Cypher backtesting on the first 2 pairs because I did it too fast and missed a bunch of trades)
- test 1 pattern at a time, on all timeframes and pairs you intend to trade. You'll see that after the dozen hours of backtesting that pattern, you'll be able to spot it really fast and accurately
- look for the losers : you want to make sure that you lower your expectation as much as possible. You don't want to end up in a situation where your live trading reveals a much lower winning rate than your backtesting did because it's gonna mess up your mind and psychology. The otherway around is much better (getting a better winning rate LIVE than you had in your backtesting).

Thanks for your feedback and question. Don't hesitate if you have more questions :)
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