Short Opportunity - Completion of Cypher Pattern
Several variables have come together for a good short opportunity. Looking for a downward trendline retest based on Stoch RSI position to enter short on price action confirmation.
Stops will be placed just above completion of Cypher pattern with targets set at .382 retracement.
Stops will be placed just above completion of Cypher pattern with targets set at .382 retracement.
Note
Price dropped to .236.. I'm now waiting on a retracement to .618 level to go short with price action confirmation (engulfing bearish, long wicks, etc).
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.