TradingView
felix92
Jul 13, 2015 4:42 PM

Trend Continuation: GBPAUD Outside return into Cypher Pattern. Long

British Pound/Australian DollarFXCM

Description

A perfect example how to combine possible advanced patterns and price structure to build a case for entry.

We recently saw a new structure high which is putting us in Trend Continuation Mode. Typically we see an outside return into previous structure, in this case perfectly lined up with the 0.382 % retracement of our last rally.

Completion Point D of the Cypher Pattern lines up exactly with the 0.382% retracement.
The setup shows how I personally manage positions for this kind of trend continuation trade.

Good Luck!
More