Yuba_Tamazgha
Short

2 for 1 on Yahoo

NASDAQ:YHOO   YAHOO INC
Yahoo             has produced two high probability patterns that would fit well in a bearish channel. The cypher (purple) formed right after the rejection candle at $32.17 at the 1.27 extension measured from the X to A leg. Price also put in a double top at $39.64. A Gartley pattern (red) shortly appeared right after. The kill zone for the bearish Gartley pattern is at $38.33 at the .786 retracement measured from X to A. There's also confluence at $38.47 1.27 extension level measured from C to B leg of the Gartley . When there is confluence, there's strong resistance/support. I'm looking to short the gartley (red), and if price action heads up a little higher into the Cypher (purple), i'll scale in another size.


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