Price is in a correction phase after the "1st impulse wave". Once the correction has completed, there is a high probability for "another impulse wave". These two impulse waves can be equidistant leading to a formation of an "ab=cd" pattern.
A Cypher Pattern completion can cancel the formation of the ab=cd pattern. However, since there is a higher risk taking an entry at the 0.786 fib. level for the Cypher , taking the entry at 0.886 fib level is more favorable. This gives opportunity for price to form an ab=cd pattern.
Trade with care. Use a strategy you have tested and verified.
6.1.8. Family.
More Than Just Trading.
A Cypher Pattern completion can cancel the formation of the ab=cd pattern. However, since there is a higher risk taking an entry at the 0.786 fib. level for the Cypher , taking the entry at 0.886 fib level is more favorable. This gives opportunity for price to form an ab=cd pattern.
Trade with care. Use a strategy you have tested and verified.
6.1.8. Family.
More Than Just Trading.
Comment:
A move down before the up move is very likely:
