Vincemushi
Short

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?\
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Vincemushi Reekardo
Sure! you want to learn how to draw harmonic pattern?
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Reekardo Vincemushi
how does it look like now? still bearish bat?
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Vincemushi Reekardo
I take profit when price hit 2057. But even now the price has retraced so it might be another bearish rally.
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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?
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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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