Another consolidation pattern on 60m timeframe.
Taking profit from previous gartley pattern at the entry level of the cypher pattern which is also 0.618 retracament of the gartley pattern.
Made 140+ pips. Hopefully this cypher will be also profitable.
We have double top with RSI being overbought and RSI divergence on 240m chart.
Price is at the .886 fib level with structure on Daily timaframe.
aggresive SL is within the structure provides better risk/reward.
conservative SL is above structure so there is higher win% probability.
Targets at 0.382 and 0.618 fib levels.
Price action came to potential reversal zone. We can take extended targets if bat pattern is in direction of the trend.
Entered Bat pattern little bit below original entry
SL is above previous resistance.
Target1 at previous structure low of the last impulse leg.
Target2 is based on Daily timeframe structure and fibonacci confluence.
We have entry signal on 60m timeframe: LLLC with RSI being overbought.
Nice downside potential of 100+ pips.
If I hit Target1 then I will trail stops to Target2.
Stop Loss is above resistance level of previous outside return.
Long TC trade on 60min timeframe with entry on lower timeframe (15m).
Reason for entry: double bottom on 15m timeframe at previous structure with RSI being oversold and RSI divergence.
Take Profit: at retest of resistance structure level.
Stop Loss: 1x ATR below the double bottom.
Looking to take extended targets beyond structure with trailing stops.
We have good...