AUDUSD - going down to complete this cypher ?
A cypher pattern is forming on AUDUSD with a Fibonacci cluster at a previous minor support level.
The Risk/Reward ratio is not terrible with a 1.25/1 and a 2/1 for targets 1 & 2 respectively.
However, if we can manage to find an entry reason based on structure to ride down to the pattern completion (eg. break below & retest the 0.7780's) we can make much more out of this potential pattern.
See if it fits your trading plan and may the pips be with you.
The Risk/Reward ratio is not terrible with a 1.25/1 and a 2/1 for targets 1 & 2 respectively.
However, if we can manage to find an entry reason based on structure to ride down to the pattern completion (eg. break below & retest the 0.7780's) we can make much more out of this potential pattern.
See if it fits your trading plan and may the pips be with you.
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► tradingview.com/u/Nico.Muselle/
Twitter: twitter.com/NicoMuselle
► tradingview.com/u/Nico.Muselle/
Twitter: twitter.com/NicoMuselle
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