AUDUSD (Cypher Pattern) - 4h Chart
Updated
Confirmations for Cypher Pattern:
- A to B must touch 0.382 but cannot exceed 0.618
- B to C must touch 1.272 but cannot close below 1.414 (Trend-Based Fib Extension)
- C to D must touch 0.786 of X to C
- First TP at 0.618 of D to C (Fibonacci)
- Second TP at 0.382 of D to C (Fibonacci)
Price still has to reach 0.786 for D completion and I'll be looking to buy at that area.
Good Trading.
- A to B must touch 0.382 but cannot exceed 0.618
- B to C must touch 1.272 but cannot close below 1.414 (Trend-Based Fib Extension)
- C to D must touch 0.786 of X to C
- First TP at 0.618 of D to C (Fibonacci)
- Second TP at 0.382 of D to C (Fibonacci)
Price still has to reach 0.786 for D completion and I'll be looking to buy at that area.
Good Trading.
Trade closed: target reached
Movement was fast, but reached blue area for our bullish movement passing second take profit and consolidating at 0.786 - 0.886 area.At this point Cypher Pattern has been completed and I expect price to do a minor bearish movement.
Good Trading.
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