AUDJPY / 1 HR / CYPHER PATTERN / SHORT

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AUDJPY / 1HR / CYPHER PATTERN / SHORT OPPORTUNITY

Here is a Cypher Pattern AT AUDJPY

CYPHER PATTERN

PAIR: AUDJPY

TIME-FRAME: 1HR

TRADE: CYPHER PATTERN

Waiting for a SHORT opportunity on the
AUDJPY at 1 Hour time frame.



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Cypher PATTERN ;

Once you identify your anchor leg draw your fib retracement from your X leg to your A leg.
Your B leg should touch the .382 retracement but should not close below the .618.
Now that you have your B leg draw a fib extension from X to A and back in.
Your C leg should touch the 1.27 but should not close above the 1.414.
Finally draw a fib retracement from X to C. Your d leg should come in at the .786.
For the Cypher Pattern, draw your targets from C to D.
Your targets should be at the .382 and the .618.
At here I put my stops at least 1:1 with first target.
Also, once you hit target 1, roll your stops to break even.
Once you do that you are in a risk free trade. That's all there is to it.


DISCLAIMER:
Please note I am only providing my own trading information for your benefit and insight to my trading techniques,
you should do your own due diligence and not take this information as a trade signal.