Nico.Muselle
Long

EURAUD continued - Gartley into Cypher

FX:EURAUD   Euro / Australian Dollar
807 42 7
Continuing my post on this pair (see below), we completed a gartley pattern and are now retracing down from it, allbeit a bit choppy. If price extends a bit more to the downside we might se a completion of the blue cypher pattern .

At completion the probability is high that we see a small reversal into the 0.382 and eventually the 0.618 retracement , giving us another opportunity to grab some pips.

The overall trend on this pair is still bearish as you can see here :
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Agreed. Nice application of harmonic patterns.
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sorry for the late response
+1 Reply
Nice ! ... wait and see I guess :)
+1 Reply
And what about this pattern..... ?
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The Cypher does not touch/exceed the 1.272 extension of XA ... so it's not a valid cypher I'm afraid
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MinervaFX Nico.Muselle
with my data feed the C is just below 127.2.
+1 Reply
Same here ...
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Shaior Nico.Muselle
Yes, it hasn't touched 127.2 exactly. It is 1pip below from 127.2. So, let's skip it....
+1 Reply
so close, yet so far from a nice pattern and a potential trade :D
+1 Reply
Shaior Nico.Muselle
Thanks Nico and MinervaFX for the correction.
+2 Reply
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