Watching #AUDCHF looking for ideas IF PA breaks below structure blue-line or IF it bounces upside. IF price bounces will wait and see if a 2-618 trade appears (618 retracement of dbl top). IF price breaks below then looking for a retrace and retest of structure for a possible #Short. IF price continues to break below then looking for B-C leg turnaround at 1.27 ext.
IDENTIFY: AUDUSD cypher shaping with good ratios & confluence, bounced off upside structure without argument. PREDICT: May get a small retrace around 0.758's on way to completion, looking for a bounce off historical structure. Killzone has 2 levels of structure thinking this is ample protection for stop. Targets set at structure levels
Watched this impulse leg descend and retrace from Monthly High to setup this Cypher. Looking left there's a lot of white space, historical structure not really tight to this pattern, looks like a recipe for a StopOut . There's better structure supporting the C-D leg, think there's more case for a Long after an outside return and trade the CD leg.
A 2 day trade where the DSR's laid out the trade plan, PA steamed thru target1 and about to hit target2 both substantial DSR traced from historical levels. Tech score at execution: 1=Trade is following bear trend 1=D completion point has 786 & 886 confluence 1=D completion at DSR 1=Final impulse harmonic ending at DSR 1=RSI at overbought