TomHall
Long

AUD.USD - Bullish Cypher Setup - 0.7180

FX:AUDUSD   Australian Dollar/U.S. Dollar
On the AUD.USD 1h chart we have a potential long opportunity's at the D leg completion of bullish Cypher setup.

The price reversal zone on this pair is between 0.7180 & 0.7151
The PRZ zone is only a guideline of where we will be paying attention for trade setups and opportunity's.

Fibonacci Confluence - 78.60% - 1.414% & 1.618%

Potential targets for the Cypher setup placed at the .382% and .618% retracement of the C to D move.
There is also opportunity to look for extended targets at around 0.7272
Stop loss would be placed below X leg structure support.

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Website: www.UKForexSignals.com
Instagram: www.Instagram.com/UK_Forex_Signals
Instagram: www.Instagram.com/Tom_Hall_Official
Twitter: www.Twitter.com/Tom_H_Official
BLUE43 TOP
6 months ago
YES
Reply
BLUE43 TOP BLUE43
6 months ago
Cypher is most a trend continuation pattern if works it will be interesting to see an HH let see
+1 Reply
TomHall TOP BLUE43
6 months ago
Let's see if price can break and close below the B leg support, at that point we will have a clearer idea of it's direction.
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BLUE43 TOP TomHall
6 months ago
AUDUSD POT REVERSAL SETUPS NO SIGNIFICANT DIV FOR NOW
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TomHall TOP BLUE43
6 months ago
Nice setup mate, we have to be aware of the news out later also.
I don't personally trade the news but we always have to take it into consideration.
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gcplau TomHall
6 months ago
Tom, you don't trade the news but take it into consideration... what you do with your open positions when key data comes such as NFP ? Let them roll just as if no data announce...? Then, you have risk of SL slippage...? Lots of the technical traders here who provide ideas do not tell what preparation they do in front of data such as NFP... will you be an exception to share?
+1 Reply
TomHall TOP gcplau
6 months ago
Hi,

My trading plan doesn't allow me to take trades near NFP due to the timezone my trades are placed.
However, if i am in a position with the news approaching i will leave it to run.
If my position is 50% towards target then stop loss will be rolled to breakeven.
If the position is at breakeven or a loss then i leave the trade open.

Please note this is only a basic outline of my rules that i have backtested using a particular strategy.
+1 Reply
gcplau TomHall
6 months ago
Thanks for the sharing.
+1 Reply
TomHall TOP gcplau
6 months ago
My pleasure.
Reply
BLUE43 TOP TomHall
6 months ago
ok
Reply
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