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TheForexSamurai
Dec 16, 2016 8:27 AM

Good to long? Long

Australian Dollar/U.S. DollarFXCM

Description

A Bullish Bat Pattern is completed as market is consolidating right now. We got 4 potential Targets. The extended Target would be a pattern formation which is a bearish Cypher Pattern that we could go short this market.

SL would be just below the X point.

Comment

You could put your SL below the X point for X point price + 2 * ATR (15) = SL level.

Comment

TP 1 and TP 2 hit.

Comment

Our D completion of the Bear Cypher is move from .7410 to .7409

Trade closed: target reached

Now we got all setups invalidated. But we hit TP 1 and TP 2.
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