Just sharing an opportunity on my radar with you guys.
After getting stopped the bearish Cypher earlier today (the green pattern), I'm reloading for a potential Double Top on the H1 timeframe.
Price is a daily support/resistance level (was support and got broken a couple weeks ago, so we'd expect the level to become resistance), and the move stopping me out the Cypher got back in that zone with RSI being oversold.
I will be looking for a double top to form (a valid one according to MY rules) to give it another shot shorting this market. Now starts the waiting game!
Have a great week in the markets!
After getting stopped the bearish Cypher earlier today (the green pattern), I'm reloading for a potential Double Top on the H1 timeframe.
Price is a daily support/resistance level (was support and got broken a couple weeks ago, so we'd expect the level to become resistance), and the move stopping me out the Cypher got back in that zone with RSI being oversold.
I will be looking for a double top to form (a valid one according to MY rules) to give it another shot shorting this market. Now starts the waiting game!
Have a great week in the markets!