AUDJPY Bearish Cypher Pattern and Short Opportunity
Description: AUDJPY reached our shortterm target. Fractal resistance and Bearish Cypher confirm a minor retracement at D 82.00 – Fibonacci 88.6% of XC Leg.
Trade Period: Intraday
Pair / Instrument: UADJPY
Time Frame: H4
The trend in the Timeframe: Bullish
The trend in the Daily Chart: Bullish
Trade Based On: Bearish Cypher Pattern
Recommended Lot Size: 0.04@ 10 K Account with 1:100 Leverage
The Area Of The Entry: 81.90 – 82.00
Stop Loss: Above X 82.55
Target 1: 81.60 – 78.6 of XC –
Target 2: 81.30 – 23.6 of CD
Target 3: 81 – 61.8 of XC –
What to Pay Attention: Trend is bullish and we plan to enter Long at potential retracement towards 81.30.
You can view the setup: AUDJPY Cypher Pattern
Update: TP2 Reached 70 Pips
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