EverythingForex
Short

UPDATE #2: AUDUSD - Cypher TP1 Hit (+35 pips). So Now What?

FX:AUDUSD   Australian Dollar / U.S. Dollar
UPDATE #2 (Again, excuse me for late posts. Still having technical issues...)
After bagging combined +106 pips on the gartely trade, followed that up with the bearish cypher being filled and a very quick TP1 hit for another +35 pips. So now what next?

Well, first a little bit of context as to what is happening right now. Back-to-back patterns happen for a good reason....consolidtion. Advanced             patterns work exceptionally well during these times when the market is moving sideways. And right now, that is exactly what this pair is doing. Basically, we are in a consolidation wave after a nice long impulse wave down. This consolidation wave COULD BE unfolding as an ABCDE symmetrical triangle. I've marked it on the chart. And within this triangle, prices could be tracing out wave D down after finishing wave C.

In terms of patterns, the Gartley was within wave C. Now in wave D down, I've marked up a POTENTIAL bullish cypher pattern that just happens to complete right down by the lower upwards sloping trendline of the triangle pattern! If this does happen, then it's a pretty good confirmation that we have a trianlge pattern here.

So in short, I am SHORT per the just completed bearish cypher and holding for TP2 while bearing in mind the POTENTIAL bullish cypher ahead.

List of my ACTIVE Trades: http://bit.ly/2JkoaR3active
Sign up to mailing list: http://bit.ly/2iNieEY
Facebook Group: https://www.facebook.com/efxselect
Twitter: @andrewefxselect
Website: http://www.efxselect.com
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out