Here on the EURAUD we have a potential bullish cypher pattern setting up. What makes this particular pattern interesting is the fact that it forms within a very nice bullish rejection zone from the daily chart. When it comes to advanced patterns, I don't need higher timeframe confirmation to tell if it's a valid signal or not, but if we happen to have some then it doesn't hurt the opportunity at all.
Please do me a favor & smash that LIKE BUTTON! Also if you have any questions or comments about this trading idea, please share it in the comment section below as I do go through & read each one.
nice analysis, what would be your entry price for this? and stop loss? thanks
Akil_Stokes
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@Jayflash45, Thanks Jay, I use aggressive entries when it comes to advanced patterns so my orders go right at the D completions with stops 1-2 ATRs below the X leg. In the case of Cyphers always 1 since there's an inverse risk/reward