I'm looking to short Dax. There's a Bat pattern completion just below the previous resistance which was tested couple of times since april. My stops are at 113.2 of fibo extension of A-X leg which is the high of 21/04/2016.
First I was looking at a gartley pattern last week, but after the Brexit vote EURUSD went sharply lower and it created B-C leg for cypher pattern. Cypher pattern works for me much better than Gartley and the win ratio is also much higher. Now I'll just wait for the C-D leg to create at 78.6% fibo retracement of X-C leg where I'll be looking for short.
There's a bearish cypher pattern. It's not a beautiful cypher as the B-C leg is just a lil' above 100% of fib retracement. After yesterday's Yellen's speech I will approach this trade very cautious as it might go even higher than 1.14.