2018Jun10 AUDJPY M15 Possible Bearish Cypher

There is a possible bearish cypher for AUDJPY. Upon D completion at 83.313 (78.6 of XC) and confirmation of the bearish bias, I will go short. Take profit targets are set at the 38.2 and 61.8 Fibonacci retracement levels of leg CD. The stop loss has the same number of pips as TP1 by default. Tentative details are as follows:

Trade Setup: Possible Bearish Cypher
Price Entry 83.313
SL 83.590 | SL pips 27.7
TP1 83.036 | TP1 pips 27.7
TP2 82.864 | TP2 pips 44.9
RRR1 1.00 | RRR2 1.62

Commentaire:

This setup is invalidated with a candlestick closing above 83.313 (78.6 of XC).