S&P Potential Cypher pattern

FX:SPX500   S&P 500 Index
223 7 2
Entry 2090
wow, can i do that? that looks cool... what if it breaks out? short the recross?\
Vincemushi Reekardo
Sure! you want to learn how to draw harmonic pattern?
Reekardo Vincemushi
how does it look like now? still bearish bat?
Vincemushi Reekardo
I take profit when price hit 2057. But even now the price has retraced so it might be another bearish rally.
Reekardo Vincemushi
at some point shorts give up and the puts are priced too cheap - that is why the vix spiked. its now just time. call/put ratio is turning in favor of bearish moves.
+1 Reply
the stop & target would be where?
Vincemushi stockman1
I was a bit in hurry but for this pattern it is fair to place a stop at 2109.9 because its where there is a support zone and 1st target at point 2038.
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