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!!
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