1hr chart cypher setting up. Just clipped the C-leg at the .127 extension now looking for a rally back up to the D-leg around 136.140's to short this market in anticipation of a .382 retracement. If price action rallies here, it is oversold and at a previous level of resistance that could turn to support, but you never can tell lol. also on this pattern i modified my entry in order to give myself atleast a .95% risk reward. Thats something that i always do if the pattern im trying to play doesnt give the risk reward i want, i move up my D-leg until im satisfied... Sometimes i get lucky and it gets filled and sometimes the market turns around without me lol but its in my trading plan.
Good luck in the markets today!!
Feel free to leave any questions or constructive criticism in the comment section below Thanks for viewing!!
Good luck in the markets today!!
Feel free to leave any questions or constructive criticism in the comment section below Thanks for viewing!!
