olly_price
Short

CADAUD bearish cypher pattern

FX_IDC:CADAUD   CANADIAN DOLLAR / AUSTRALIAN DOLLAR
36 0 1
Nice cypher pattern here along with good previous structure support . The market will either break the support and complete SL or the support will stop the upward move and push the market into the profit area. RSI is approaching an overbought state, so hopefully it will reach this by the time the cypher has completed.

Looking at the daily chart it can be seen that if this cypher pattern works then the chart will continue with the consolidation in the 0.985-1.020 region. If the cypher is unsuccessful then we may see a longer term bullish trend .

Please let me know what you think - criticism and support is welcomed on equal measure!
Trade closed: target reached
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