AUDUSD Double Pattern Opportunity on Market Open
After closing off my positions for the weekend, i will be watching this pair to see where price action is on the open.
If price action opens at the same price it closed on Friday, then we have a Cypher pattern completion at market.
If the market opens lower, we have a Bat pattern down at 7358.
Stops for both patterns would need to be below 7338 MINIMUM.
Of course if market opens higher and it is above the 382 retracement on either pattern, i will see this as the target profit already being hit and i will no longer look to enter myself into the pattern opportunities.
Good luck this week in the markets!
If price action opens at the same price it closed on Friday, then we have a Cypher pattern completion at market.
If the market opens lower, we have a Bat pattern down at 7358.
Stops for both patterns would need to be below 7338 MINIMUM.
Of course if market opens higher and it is above the 382 retracement on either pattern, i will see this as the target profit already being hit and i will no longer look to enter myself into the pattern opportunities.
Good luck this week in the markets!
