On the AUDUSD 4h chart, we will have a potential short opportunity at the D leg completion of bearish Cypher setup.
The price has been risen for 18 days, breaking out the second high peak B. There is also a deviation on MACD 4h and RSI charts. Meanwhile, Cypher Setup D may reach 0.76410.
Strategy: The price reversal zone on this model is between 0.7640 and 0.7790.The PRZ zone is only a guideline of where we will be paying attention for trade setups and opportunities.
Potential targets for the Cypher setup placed at the .382% and .618% retracement of the C to D move.
Stop loss would be placed above X leg structure resistance .