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AdamHong
Oct 25, 2016 10:17 AM

USOIL:Potential Bearish Cypher Pattern and 1.618EXT Short

Crude Oil (WTI)FXCM

Description

The potential bearish Cypher pattern is completing at 51.4 and 1.618EXT of the AB is also at this level.
Meanwhile the previous high points and structure are at this zone.
So it is good to sell short at 51.4-51.6 levels when bearish candles appear.
SL:above 51.9
TP1:50.9
TP2:50.3 and further more

Comment

The market must effectively break through the 50.9 level at first before the D of the Cypher reached.

Order cancelled

The market does not give the chance to us.
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