CYPHER pattern forming with good support/resistance
Updated
Bearish Cypher pattern on its way to forming on Platinum priced in US dollars.
Upper black line shows good previous structure, which I use as a stop loss.
Lower black line shows good historic support (zoom out to see more), which the larger green box indicates as a third target. The other two profit targets are based on Fibonacci retracements.
Upper black line shows good previous structure, which I use as a stop loss.
Lower black line shows good historic support (zoom out to see more), which the larger green box indicates as a third target. The other two profit targets are based on Fibonacci retracements.
Trade active
Trade closed: stop reached
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.