AUDUSD 60M: Cypher Pattern Setup at Minor Resistance Level

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Trade Management

Pattern: Cypher

Symbol: AUDUSD

Date: Tuesday, 17th of November 2015

Timeframe: 60M

Entry-Point: 0.7140 (Limit Order)

Stoploss: 0.7162

Take-Profit 1: 0.7114

Take-Profit 2: 0.7098

Description: The AUDUSD Trading Idea is a high probability trading setup, because of the minor resistance level that forms right at the 0.7140 entry level of the cypher pattern. Target 1 will be at the .382 and Target 2 at the 0.618 fibonacci retracement of the CD leg.

Important: If price violates the 0.7072 level, the trade will be invalid.

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