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Jagger_Graham

Cypher + Double Top In Resistance Zone At Ratio Confluence

Penjualan
Euro / Dollar Australia (FX:EURAUD)  
Jagger_Graham  
FX:EURAUD   Euro / Dollar Australia
short Bearish Patterns Cypher Bearish Cypher Harmonic Patterns Harmonic Patterns Double Top ratio ratiotrading ratioconfluence Support and Resistance Support and Resistance
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short bearish cypherpattern bearishcypher harmonicpatterns harmonicpatterns doubletop ratio ratiotrading ratioconfluence supportandresistance supportandresistance
If you love cypher patterns but didn’t catch this one yet, now might be the time. First off we have a completed cypher. Price action has come up into previous resistance at X but has not violated the 1.6150 level. The market has also double topped in that resistance zone. We are now much closer to our stops than when I personally got in at D completion (1.6065). Because of this, depending on where the market gaps, the risk reward ratio is way better than before at a hefty 4.51 where the market is currently sitting. We also have 1.414 confluence at that double top from a Fibonacci extension of the A to B leg. Looks like a good place to get short. Feedback is always welcome if you want to leave your thoughts in the comment section below. Good luck and good trading!
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