UPDATE: USDCHF: Bearish Cypher Completion + POTENTIAL Bull Crab

8 ביולי 2015

UPDATE: In a post I made about this pair 6 days ago, I alerted that this Bearish Cypher was completed (see Related Ideas: "ALERT! USDCHF Bearish Cypher Completion"). Well, 6 days later...still waiting on this pattern to get to target 1. It happens like that sometimes especially for patterns spotted on higher TF. Prices have tried and tried and tried to take out this Cypher and just barely missed breaking the PRZ but still hanging in there.

NOTE***: Although prices DID break the PRZ, they DID NOT close above it. So that is why I am still in this trade.

Now, there is a possible bull crab pattern that may form SHOULD prices reach Target 1 of the Cypher and a little beyond it. This is just an early alert to give you some heads up on this trade as I am STILL waiting patiently for prices to get to Target 1 of the Cypher....and waiting...and waiting....and waiting.......