dojitrader
Short

Inside a Potential Cypher Pattern . . .

FX:AUDUSD   Australian Dollar / U.S. Dollar
156 1 2
tcpoh888 saw the potential for this Cypher 13 days ago.
As I was looking at the chart I noticed a potential Ending Diagonal
for the last swing high possibly unfolding.
ED's are 3-3-3-3-3 so when I saw the 3 wave swing up to the
1st wave of 5 I thought just maybe -----
The final waves are breaking down a little but,
if this comes to pass it will be a great opportunity
for a short with smaller risk than the Cypher .
Which, at above X would be almost 100 pips
and that's just to much for me to live with.
Did not place the short entry as we will not know
until the ED finishes or the price action does
something else.
Larger Cypher chart posted in comments.
The larger Cypher
snapshot
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