AUD/CAD potential Cypher pattern

2017년 11월 22일

A potential Cypher pattern on the Aussie CAD pair has been spotted. Overall, the pair is in consolidation on the 4 hour time frame (with expectations of going to the upside) and the pattern is inside said timeframe. Therefore, a long position can be opened. Stops are placed below the consolidation zone; Target 1 is placed at a 61.8 retracement and target 2 is placed at previous structure. Increased volatility should not be a problem due to the absence of "important" news in the upcoming days.