Market has just double bottomed, accompanied with bullish divergence on the RSI, all signs pointing that there might be a further leg to the upside. Targets go at previous highs, stops go below the X leg of the cypher, giving us a favourable RvR.
Used the bullish cypher as a reason of entry on a trend continuation opportunity. Planning to ride it all the way into a bearish cypher. Good trading.
Missed the original entry on this, but entered at market, giving me a much better RVR on this particular pattern.
A bullish bat pattern has formed at previous structure, giving us an interesting chance to hop on the trend. Stops go below the previous outside return, targets go at prev highs.
A bearish butterfly terminating @ previous structure is a situtation that provides the trader with a solid case for entry as well as a safe area to place stops. Look for targets according to your trading plan, and how you trade this set up. Good luck.
the bearish butterfly that was posted earlier is invalidated, instead a bull cypher has completed.
A potential bearish gartley has yet to complete at the same area where a bearish butterfly is set to complete, all coming in at previous structure resistance, making this quite an attractive opportunity to get short. Stuck in the middle, was a smaller completed bear cypher that hit targets with virtually no pain.
Two high probability patterns complete at the same zone. Good trading!
S