Hey guys,
another advanced pattern formation i'd like to share with you today. As usual, my analysis starts from higher timeframe: the black line represents a daily structure level that's just been broken to the downside by priceaction. Being that, i know i expect a bearish continuation to the south and i want to get involved in short trades if i can.
This harmonic pattern, called Cypher, allows me to do so, therefore i'm setting my orders up.
Stops above X, targets at .328 and .618 retracements of AD leg.
Good luck!
If you want to share your standpoint or just ask questions, feel free to write below.
Otherwise, see you in the next chart!
another advanced pattern formation i'd like to share with you today. As usual, my analysis starts from higher timeframe: the black line represents a daily structure level that's just been broken to the downside by priceaction. Being that, i know i expect a bearish continuation to the south and i want to get involved in short trades if i can.
This harmonic pattern, called Cypher, allows me to do so, therefore i'm setting my orders up.
Stops above X, targets at .328 and .618 retracements of AD leg.
Good luck!
If you want to share your standpoint or just ask questions, feel free to write below.
Otherwise, see you in the next chart!