tommyb35
Short

Bearish Cypher for Trend Continuation entry

FX:AUDUSD   Australian Dollar/U.S. Dollar
2 months ago
On the AudUsd             the is a potential bearish cypher setting up. The pattern will complete at .76021. The nice thing about this particular cypher pattern is that it is with the trend here on the 60 min chart. So you can play this normal with T1 at the .382 and T2 at the .618 or you can use the cypher as an entry for a trend continuation trade.
Now when it comes to doing this, the Cypher pattern is the only one that I will use for this method. The way I take my targets personally is my normal Target 2 will become my new Target 1 and then I will shoot for a retest of structure lows for my target 2. You could also look at trading 3 targets, that way you make sure to bank some profit before swinging for the home run. As always, you should follow your trade plan and your rules.
Good luck and good trading.
2 months ago
Trade active: Well my limit order got filled about 2 hours ago. I will be looking for target 1 at the 61.8 and target 2 will be a retest of structure lows.
2 months ago
Trade closed: stop reached: Got stopped out this morning at the new York open. Oh well on to the next trade.
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out