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Australian Dollar / U.S. Dollar
Short

AUDUSD Short: Cypher Inside of Channel

By glennmercer
Updated
AUDUSD is nearing the completion of a bearish cypher pattern on the 1HR chart. The PRZ may find resistance from the center of a rising channel. Entry is placed at the top of the PRZ with SL at 1.13XA and target at .5CD.

Confluence in the PRZ:
  • Bearish cypher
  • 1.272BC Projection
  • 2.5AB=CD
  • Channel center resistance
  • S/R Zone
Trade active
Trade closed: stop reached
Channel center line broken before target, SL reached: -9 pips
AUDUSDBearish CyphercenterlineconfluenceCypherglennmercergmercerfxParallel ChannelPRZS/Rs_rzoneSupport and Resistance
glennmercer
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