ErrolMuller
Short

BEARISH CYPHER PATTERN AT TRENDLINE RESISTANCE

FX:GBPAUD   British Pound/Australian Dollar
GOOD DAY ALL,

HERE WE ARE LOOKING AT A BEARISH CYPHER PATTERN AT TRENDLINE RESISTANCE.

D LEG SHOT UP A LITTLE BIT HIGH BUT DID NOT BREAK THE X LEG SO THE TRADE IS STILL VALID.

THE IDEAL ENTRY WOULD BE 1.99667 AS THE CANDLE SHOT UP AND RETRACED BACK DOWN SHOWING SOME EXTRA CONFIRMATION THAT THERE MIGHT BE A TREND REVERSAL AT TREND LINE RESISTANCE.

IF YOU GO BACK A LITTLE BIT OR COMPRESS YOUR CHART YOU WILL ALSO SEE THAT WE ARE AT PREVIOUS STRUCTURE RESISTANCE AS WELL

I AM CURRENLTY INVOLVED IN THIS TRADE AND STOPS ARE JUST ABOVE THE X LEG

GOOD TRADING GUYS

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ErrolMuller
2 years ago
SORRY GUYS, THE RSI IS ALSO AT OVERBOUGHT CONDITIONS
Reply
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