Looking at the Daily chart of the AUDUSD pair, we noticed the formation of a Cypher pattern to be completed at 0.76409 price level. Take Profits are set to 0.382 and 0.618 of the CD leg and Stop Losses above X-point level.
I will be waiting to see a confirmation of the down move by looking at indicators as well as candle and/or previous structure formations.
Note that RSI already shows overbought conditions and a small divergence, so it seems wise to look for clues at lower time frames also (H4).
Lets see how this will play out.
All comments and feedback are highly appreciated.
I will be waiting to see a confirmation of the down move by looking at indicators as well as candle and/or previous structure formations.
Note that RSI already shows overbought conditions and a small divergence, so it seems wise to look for clues at lower time frames also (H4).
Lets see how this will play out.
All comments and feedback are highly appreciated.
Trade active
Trade active
Trade active
Trade closed: target reached