Short Setup with Targets and Bias and point of validity.

Hi guys last week we complete a bear pattern which is a bear shark pattern - 113% and a bear crab pattern - 161.80%. As we also complete a thunderbolt pattern (AB=CD) by which that could extend atleast on the 161.80% BC leg which is actually our D completion of our Bear Crab Pattern. Take note that price is rising from an ascending narrowing channel. We could go aggressively SHORT the market as market opens or wait for a pull or a sell setup on the lower TF or a pullback/retracement once again on the price entry levels. A BO of the lower TL of the ascending channel could be also a good way to Short the market. With that we could have and extend our TP to another potential pattern which is a Bull Cypher Pattern by which could give us another LONG opportunity on further market price action/sentiment.

We also do have a POV of the bull cypher. A candle break and close above the Cypher POV will of course invalidate our potential Bull Cypher giving us a low chance to retrace at least on the 78.60% of the XC Cypher, a way on taking profits on TP 1 and TP2.

TP1: 113.96
TP2: 113.08
Ext TP: 112.48

Stops would be at least above the reversal level or so. Trade with care and Enjoy on next week's market!

Comment:

Expect a bounce on the bull Cypher But take note that TP 1 is already hit if you have taken the bear setups.

Comment:

TP 1 and TP 2 hit on the short setup as we are to a bullish Cypher completion.