Nico.Muselle
Long

AUDUSD - Bullish Cypher revisited

FX:AUDUSD   Australian Dollar / U.S. Dollar
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Predicted one week ago, this Cypher now is at completion and ready to reverse. On the way down it gave us and ideal AB=CD pattern as well with a retracement up that looked like it was heading to invalidate the pattern.

An ideal AB=CD is where the AB-leg is exactly equal to CD and where BC is a . 618 retracement of AB.

Targets and SL are still identical to the previous post. See also the chart of JasperForex who's got other reasons but approximately the same PRZ for a Gartley Pattern in a Bullish channel .
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nice bullish cypher dat sucked
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Nico.Muselle NickCoulby
Nice vocabulary ... Cyphers have a success rate of approximately 60% ... this one did not work out.
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NickCoulby Nico.Muselle
approximatly? hav u mesured all cyphers ever? lmao how can u possbly kno 60%??
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Nico.Muselle IvanLabrie
Nice potential channel trade, not in my trading plan yet, you can't learn all at the same time :)
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IvanLabrie Nico.Muselle
I took that one, but using a different method. Interest rates decision today. I think you could improve your odds by looking at fundamentals closely.
+1 Reply
Nico.Muselle IvanLabrie
Yes I know, another thing I should really start looking into ... the list is getting longer every day :)
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IvanLabrie Nico.Muselle
Just watch this: http://www.fxstreet.com/economic-calendar/
Easy to time momentum for short term trades with that info. :D
+1 Reply
Nico.Muselle IvanLabrie
I've got the calendar allright ... only thing is, I'm usually @ work or asleep when news comes out ... So for now I tend to try and stay away if I know news is coming.
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IvanLabrie Nico.Muselle
Ah, well, they can fuel some pretty large moves. I'm all over them. Normally technical setups in larger timeframes align with news momentum and give you a 300+ pip move in a week or less.
+1 Reply
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