Cypher pattern could extend further
Warnings: Gap on open, wide range bars completing D leg, along with market being on a steady uptrend.
Keep contract sizes small
Conservative traders short the double top, aggressive traders short the .786 completion of cypher (6417.3)
Validity: Valid double top near all time highs
Warnings:
Warnings: Gap on open, wide range bars completing D leg, along with market being on a steady uptrend.
Keep contract sizes small
Conservative traders short the double top, aggressive traders short the .786 completion of cypher (6417.3)
Validity: Valid double top near all time highs
Warnings:
- Look for wide range bars completing the D leg (could extend further)
- Market has been in a strong uptrend (keep contract size small)
- If your trading using nadex as broker be aware of the time the pattern forms you want to have enough time to reach targets
Trade active:
In on Cypher Pattern (6417.3)
Trade closed: stop reached