-Hear the end of the first wave and possibly the beginning of the second which is expected to be 2 times the first. watch for break in resistance
range between of 0.08000191(stop loss set bit below this.) and 0.08130818 ( serves as confirmation for second wave).
-MACD indicating an increase in momentum as the lines go above the 0 though RSI indicates an over...
The pair has bounced off the deep correction lvl 78.6 FIB. As we can see it's resting now on the Monthly lvl of support and has broken CTL as well. On my opinion the pair has made new higher low and ready to go all the way up to 1.4600 min.
FX:AUDUSD
In this trade we can see a nice preceding bullish trend heading towards an area of resistance, next we see a nice pin bar candlestick which tells us that the bullish power might be transitioning to the bears. Confirmation is needed for me, so i executed a breakout entry below the low of the pin bar candlestick or also called Indecision...
Quite a late entry into a daily bat pattern, which we could gain a few pips on nonetheless. Even if it does stop out we still have a potential movement into a large cypher pattern which could provide a large number of pips.
Bat pattern to continue what could be a consolidation in this pair.
Buy at 111.995.
Profit targets indicated by green box.
Stop loss based on previous structure.
HI ALL,
We might see a Bullish Cypher pattern setup here.
We need to see a D leg Completion at a 0.786% for it to complete.
Stops above X leg
TGT 1 0.382
TGT2 0.618%
Best of luck :)
WE MIGHT HAVE A POSSIBLE BULLISH CYPHER PATTERN SETTING UP HERE.
RSI IS ALREADY AT EXTREME OVERSOLD CONDITIONS AND ARE NEAR THE EXTREME OVERSOLD CONDITIONS ON THE HIGHER TIMEFRAME AS WELL
![AUDUSD: [AUDUSD] PIN BAR CANDLESTICK + AREA OF RESISTANCE](https://s3.tradingview.com/j/jMv5cfkd_mid.png "[AUDUSD] PIN BAR CANDLESTICK + AREA OF RESISTANCE")
