AUS200 - 4h - Cypher at strong daily resistance

FX:AUS200   S&P/ASX index of Australian listed shares
7 months ago
AUS200             is currently ranging (last year or so). now that we pressed into the upper area again, we formed a cypher pattern that gives us a potential sell opportunity riding this thing down again (if you like).

how you wanna trade this is really up to you. you can go for an standard pattern sell with quick profits or you can use this as an entryreason to try to catch a bigger move down - or both.
keep in mind that if we would use a trendline(blue) instead of a horizontal zone we would be in breakout mode already, which would make quick profits more safe. but its not nessesarily a trendline that i would pay huge attention to as long as we dont also break the horizontal zone to the upside. that why - so far stil short bias
7 months ago
Comment: daily picture for reference
7 months ago
Comment: i took a quick 1:1 earlier for the full position. im not interested in holding a position for moth to come. but the market is currently sitting in a decission area, so keep an eye out for break to the down or to the upside
7 months ago
Great, thanks
SergeantPringles Only-ASX200
7 months ago
your welcome.
Ideas Scripts Chart
United States
United Kingdom
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out