Hi guys we went to TP 1 already and stopping us out once again with breakeven as we want market to reach our TP 2. And now Price went back form the Cypher Pattern Completion entry price once again now with a bias of a bearish Bat Pattern. Thinking it aggressively if there could be a potential Bear Bat pattern, price must not break the red line by which is the lowest point of our bear bat pattern (A point) hence giving us a bias here to go LONG once again with a very tight stop but take note that it is risky. A potential LONG setup right with a good 1:5 RR. Take note of the forming bullish divergence right there.
Enter LONG that meets your rule. Trade with care and enjoy! Feel free to comment.
코멘트
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This was the previous LONG setup we got from this market.
코멘트
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With a back to back win on the SHORT setup we got in this market.
코멘트
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As per my rule on the Bat pattern. We have already invalid Bear Bat pattern setup as price right now did retrace more than 100% of its potential AB leg.
코멘트
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We can look more of a potential bearish Cypher than a Bearish Bat pattern. As for the Bull Cypher Pattern it is still valid as we want its stops to be below the X point of the whole Cypher Pattern. A visible and potential Bull gartley is also at potential to get formed in the future. We will see.