XAUUSD Cypher/Butterfly Short (Daily chart)
I've been following these two potential pattern formations for some time now and the recent higher close candle (01/12/2015) only adds to a likely completion of the formations. Stops need to go above 1344.87 and Target 1 is at 1235.09 (a nice even-handle). I will most likely wait for confirmation doji/ungulfing candles or a Double top at the 1299.13 entry point (another good psychological number), since a pattern on the Daily involves a bit more risk than what I feel comfortable with.
What you do with this idea is your own responsibility!!!
Cheers traders and good luck!
What you do with this idea is your own responsibility!!!
Cheers traders and good luck!
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