On the AUD.USD Daily chart we have a potential short opportunity at the D leg completion of bearish Cypher setup.
The price reversal zone on this pair is between .7645 & .7777
The PRZ zone is only a guideline of where we will be paying attention for trade setups and opportunity's.
Potential targets for the Cypher setup placed at the .382% and .618% retracement of the C to D move.
There is also opportunity to look for extended targets at around .7231
Stop loss would be placed above X leg structure resistance.
Target 1 - .7458
Target 2 - .7342
The price reversal zone on this pair is between .7645 & .7777
The PRZ zone is only a guideline of where we will be paying attention for trade setups and opportunity's.
Potential targets for the Cypher setup placed at the .382% and .618% retracement of the C to D move.
There is also opportunity to look for extended targets at around .7231
Stop loss would be placed above X leg structure resistance.
Target 1 - .7458
Target 2 - .7342
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4hr bearish RSI divergence has now formed.
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D leg now complete, potential short opportunity
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Market is now starting to push to the downside towards .7458
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Technical analysis chart.
