audusd bullish cypher - go long

FX:AUDUSD   Australian Dollar / U.S. Dollar
353 8 4
Perfect cypher completed with reversals on a dime at key fib levels of 38.2, 127 and back to 78.6

In conjuction with a bat pattern on a bigger time scale and the RSI being oversold, this double confirmation is a good trade to enter with stops just below the X point.

Enjoy some pips
Let's wait for tomorrow.
motleifaul motleifaul
It's tomorrow now. Let's buy.
Khan motleifaul
how you liking it now buddy? 100 pips in - another 100 to go
Where would you have placed your stop?
Khan motleifaul
because i am doing a long play on daily charts, stop goes 10 pips below point X - so in this case 0.8880 - thats approx 180 pips - my 1st target at 9280s making 200 pips - you say risk:reward approx 1:1 not good, but second target 9460s (another 200 pips) - dont know if you have research into advanced pattern trading or not - but works 60-80% of the time which I believe is worth the risk
Khan Khan bat pattern on this one - better risk:reward on this one (1:1.5 on 1st targets)
Good idea. Thank you.
Khan motleifaul
Important thing to notice is that on this AU chart, price been rising and falling between these levels for 5 days now. I exited my 100 pips profit yesterday, and then re-entered at lows last night as sentiment towards it rising same. so even if it doesnt hit my target, i already made 250-300 pips.
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