BULLISH CYPHER AUDUSD

24 Tem 2017

Hope traders were able to capitalize on the bearish cypher that appeared on the AUDUSD 1H (and below). TPs hit, now anticipating the test of 0.79876. The 78% PRZ is actually a bit deeper than 79876, however in playing to the tone of structure analysis we are moving the potential level a couple of pips higher to ensure fill. I would not expect this pattern to unravel back up to the highs if hit; but look to take profit at levels around 79264 if triggered. Stops below the recent low.